Headlands Technologies LLC Purchases New Shares in CDW Co. (NASDAQ:CDW)

Headlands Technologies LLC bought a new position in CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,150 shares of the information technology services provider's stock, valued at approximately $5,073,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new stake in CDW during the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. boosted its position in shares of CDW by 7,549.9% in the 4th 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 during the period. Franklin Resources Inc. increased its stake in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in CDW during the 4th quarter worth about $130,996,000. Finally, Graphene Investments SAS lifted its stake in CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after buying an additional 2,600 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

CDW traded down $12.90 on Thursday, hitting $151.57. 3,559,275 shares of the stock traded hands, compared to its average volume of 1,101,863. The firm has a market capitalization of $20.08 billion, a PE ratio of 19.02, a P/E/G ratio of 3.21 and a beta of 1.01. 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 52 week low of $150.51 and a 52 week high of $263.37. The business has a fifty day moving average price of $180.64 and a two-hundred day moving average price of $190.34.

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CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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, research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective 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, UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $235.50.

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.