Daiwa Securities Group Inc. Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

Daiwa Securities Group Inc. grew its position in CDW Co. (NASDAQ:CDW - Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,634 shares of the information technology services provider's stock after purchasing an additional 1,635 shares during the quarter. Daiwa Securities Group Inc.'s holdings in CDW were worth $4,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CDW by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,644 shares of the information technology services provider's stock valued at $4,811,000 after purchasing an additional 611 shares in the last quarter. AlphaQuest LLC acquired a new stake in CDW during the 4th quarter worth $631,000. OFI Invest Asset Management acquired a new stake in CDW during the 4th quarter worth $32,000. Kendall Capital Management raised its stake in CDW by 12.1% during the 4th quarter. Kendall Capital Management now owns 28,555 shares of the information technology services provider's stock worth $4,970,000 after acquiring an additional 3,093 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in CDW during the 4th quarter worth $1,548,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note 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 research note on Thursday, February 6th. Finally, UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $242.67.

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CDW Stock Performance

Shares of NASDAQ:CDW traded up $3.50 during midday trading on Friday, hitting $167.00. The stock had a trading volume of 821,059 shares, compared to its average volume of 1,026,840. The company has a market capitalization of $22.13 billion, a PE ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 1.01. The stock has a 50 day moving average price of $185.56 and a two-hundred day moving average price of $195.07. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37.

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, beating 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%. As a group, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 31.37%.

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

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.