Intech Investment Management LLC Acquires 105,537 Shares of CDW Co. (NASDAQ:CDW)

Intech Investment Management LLC grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 1,080.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,307 shares of the information technology services provider's stock after acquiring an additional 105,537 shares during the period. Intech Investment Management LLC owned 0.09% of CDW worth $20,068,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CDW. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW in the third quarter worth $1,629,000. Assenagon Asset Management S.A. raised its position in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after buying an additional 3,567 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of CDW in the fourth quarter worth $130,996,000. Finally, Graphene Investments SAS raised its position 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 purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

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CDW Trading Down 1.5 %

Shares of NASDAQ:CDW traded down $2.52 on Friday, reaching $165.57. 2,060,916 shares of the company traded hands, compared to its average volume of 1,038,222. The business's 50-day simple moving average is $184.40 and its 200 day simple moving average is $193.36. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The stock has a market capitalization of $21.94 billion, a P/E ratio of 20.77, a price-to-earnings-growth 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 (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 return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 dividend yield of 1.51%. CDW's payout ratio is presently 31.37%.

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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on CDW from $193.00 to $201.00 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 five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $242.67.

About CDW

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.