Harvest Fund Management Co. Ltd Purchases 1,690 Shares of CDW Co. (NASDAQ:CDW)

Harvest Fund Management Co. Ltd grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 27.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,843 shares of the information technology services provider's stock after purchasing an additional 1,690 shares during the period. Harvest Fund Management Co. Ltd's holdings in CDW were worth $1,365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. State Street Corp raised its position in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock valued at $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock valued at $785,635,000 after purchasing an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC grew its position in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC increased its stake in CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock valued at $261,779,000 after buying an additional 3,424 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDW. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group reduced 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. Finally, Barclays boosted 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.

CDW Stock Performance

Shares of CDW traded up $4.74 during trading hours on Monday, hitting $170.31. The company's stock had a trading volume of 1,011,289 shares, compared to its average volume of 1,040,202. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business has a 50 day simple moving average of $184.40 and a two-hundred day simple moving average of $193.04. CDW Co. has a 52-week low of $162.84 and a 52-week 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 (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%. On average, equities analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW's dividend payout ratio is currently 31.37%.

CDW declared that its board has approved a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management 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.