Franklin Resources Inc. Buys 13,748 Shares of CDW Co. (NASDAQ:CDW)

Franklin Resources Inc. lifted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 121,757 shares of the information technology services provider's stock after acquiring an additional 13,748 shares during the period. Franklin Resources Inc. owned 0.09% of CDW worth $21,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in CDW during the 4th quarter worth approximately $144,826,000. Madison Investment Advisors LLC purchased a new position in CDW during the 4th quarter worth $130,996,000. Proficio Capital Partners LLC grew its stake in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after acquiring an additional 683,446 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on CDW. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price 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. Finally, Barclays increased 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus price target of $235.50.

CDW Trading Up 1.4 %

CDW stock traded up $2.10 during trading on Friday, hitting $148.80. 1,815,288 shares of the company traded hands, compared to its average volume of 1,160,407. The company has a 50-day moving average of $172.21 and a 200-day moving average of $185.97. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 1 year low of $137.31 and a 1 year high of $248.12. The firm has a market capitalization of $19.71 billion, a PE ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.97.

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 (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 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.