Marshall Wace LLP Makes New $41.65 Million Investment in CDW Co. (NASDAQ:CDW)

Marshall Wace LLP bought a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 239,317 shares of the information technology services provider's stock, valued at approximately $41,651,000. Marshall Wace LLP owned 0.18% of CDW at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CDW. Barclays PLC grew 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 worth $261,779,000 after acquiring an additional 3,424 shares in the last quarter. Fulcrum Equity Management grew its stake in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 60 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in CDW by 18.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider's stock worth $572,000 after purchasing an additional 397 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in CDW by 5.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider's stock worth $1,260,000 after purchasing an additional 265 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in CDW during the 3rd quarter valued at $973,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. UBS Group dropped 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. Morgan Stanley raised their target price 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. Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Citigroup reduced their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $217.38.

CDW Trading Up 1.8 %

NASDAQ:CDW opened at $151.47 on Friday. The firm has a 50 day moving average of $168.47 and a 200 day moving average of $184.14. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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

CDW declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

CDW Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.