Bank of New York Mellon Corp Has $170.48 Million Stake in CDW Co. (NASDAQ:CDW)

Bank of New York Mellon Corp raised its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979,521 shares of the information technology services provider's stock after purchasing an additional 40,666 shares during the period. Bank of New York Mellon Corp owned approximately 0.74% of CDW worth $170,476,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CDW. Impax Asset Management Group plc lifted its holdings in shares of CDW by 22.7% in the fourth quarter. Impax Asset Management Group plc now owns 41,295 shares of the information technology services provider's stock worth $7,187,000 after acquiring an additional 7,642 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in CDW by 9.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 3,720 shares of the information technology services provider's stock worth $647,000 after purchasing an additional 316 shares in the last quarter. South Dakota Investment Council lifted its stake in CDW by 533.9% in the 4th quarter. South Dakota Investment Council now owns 6,174 shares of the information technology services provider's stock valued at $1,075,000 after purchasing an additional 5,200 shares during the last quarter. Cabot Wealth Management Inc. lifted its stake in CDW by 1.6% in the 4th quarter. Cabot Wealth Management Inc. now owns 69,465 shares of the information technology services provider's stock valued at $12,090,000 after purchasing an additional 1,101 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in CDW in the fourth quarter valued at approximately $174,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Barclays lifted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Trading Down 3.2 %

Shares of CDW stock traded down $5.77 during mid-day trading on Monday, hitting $172.43. The company's stock had a trading volume of 871,714 shares, compared to its average volume of 1,349,703. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The company's fifty day simple moving average is $186.80 and its 200-day simple moving average is $198.81. The company has a market cap of $22.85 billion, a PE ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, February 25th. CDW's dividend payout ratio is presently 31.37%.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.