Massachusetts Financial Services Co. MA Has $420.15 Million Stock Position in CDW Co. (NASDAQ:CDW)

Massachusetts Financial Services Co. MA boosted its stake in CDW Co. (NASDAQ:CDW - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,414,093 shares of the information technology services provider's stock after purchasing an additional 575,333 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.81% of CDW worth $420,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of 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 valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Norges Bank bought a new stake in CDW during the fourth quarter valued at $144,826,000. Madison Investment Advisors LLC acquired a new position in shares of CDW in the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC raised its stake in CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after acquiring an additional 683,446 shares during the period. Finally, Wellington Management Group LLP boosted its stake in CDW by 29.2% in the fourth 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 acquiring an additional 574,444 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

CDW has been the topic of a number of 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. Barclays boosted 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. Finally, Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.50.

CDW Trading Down 1.2 %

Shares of CDW traded down $1.79 during midday trading on Monday, hitting $142.70. The stock had a trading volume of 1,291,508 shares, compared to its average volume of 1,120,784. The business has a 50-day simple moving average of $178.71 and a two-hundred day simple moving average of $189.07. The firm has a market cap of $18.91 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. 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 fifty-two week low of $137.74 and a fifty-two week high of $257.33.

CDW (NASDAQ:CDW - Get Free Report) last released 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 return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

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.