Black Creek Investment Management Inc. Invests $23.03 Million in CDW Co. (NASDAQ:CDW)

Black Creek Investment Management Inc. bought a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 132,300 shares of the information technology services provider's stock, valued at approximately $23,025,000. CDW accounts for approximately 1.1% of Black Creek Investment Management Inc.'s investment portfolio, making the stock its 13th biggest holding. Black Creek Investment Management Inc. owned about 0.10% of CDW at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Townsquare Capital LLC lifted its position in shares of CDW by 22.1% in the 4th quarter. Townsquare Capital LLC now owns 21,555 shares of the information technology services provider's stock worth $3,751,000 after acquiring an additional 3,905 shares during the period. Distillate Capital Partners LLC acquired a new position in CDW in the fourth quarter worth $16,415,000. Heritage Trust Co bought a new stake in CDW during the 4th quarter worth about $257,000. Treasurer of the State of North Carolina raised its stake in shares of CDW by 0.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 60,655 shares of the information technology services provider's stock worth $10,556,000 after acquiring an additional 270 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in shares of CDW during the fourth quarter worth approximately $7,930,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Up 1.8 %

CDW traded up $2.70 during trading on Friday, hitting $151.47. The company had a trading volume of 1,166,889 shares, compared to its average volume of 1,164,830. The firm's 50-day moving average price is $168.47 and its 200 day moving average price is $184.14. CDW Co. has a one year low of $137.31 and a one year high of $248.12. The company has a market capitalization of $19.96 billion, a PE ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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 analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. CDW's dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday. Citigroup lowered their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $217.38.

CDW 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.