CDW Co. (NASDAQ:CDW) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 742,638 shares of the information technology services provider's stock after purchasing an additional 160,089 shares during the quarter. First Trust Advisors LP owned about 0.56% of CDW worth $129,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP lifted its stake in CDW by 29.2% in the 4th 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 buying an additional 574,444 shares in the last quarter. Invesco Ltd. grew its holdings in CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Citigroup lowered their target price on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has a consensus rating of "Moderate Buy" and an average target price of $217.38.

CDW Trading Up 2.4 %

CDW traded up $3.61 on Tuesday, reaching $152.03. 959,226 shares of the company's stock were exchanged, compared to its average volume of 1,173,110. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.21 and a beta of 0.97. 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 twelve month low of $137.31 and a twelve month high of $248.12. The company's 50 day moving average is $166.14 and its 200-day moving average is $182.47.

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.64%. 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 approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is 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.