Mirae Asset Global Investments Co. Ltd. Purchases 4,384 Shares of CDW Co. (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,057 shares of the information technology services provider's stock after acquiring an additional 4,384 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CDW were worth $6,338,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp lifted its holdings in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after acquiring an additional 64,702 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after acquiring an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in CDW in the third quarter worth about $416,111,000. Janus Henderson Group PLC lifted its holdings in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC lifted its holdings in CDW by 0.3% in the third 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 during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

CDW stock traded up $0.17 during mid-day trading on Tuesday, hitting $191.74. The company's stock had a trading volume of 797,094 shares, compared to its average volume of 1,443,026. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $25.55 billion, a P/E ratio of 24.06, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock's fifty day moving average price is $184.32 and its two-hundred day moving average price is $201.43.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Research analysts forecast that CDW Co. will post 9.35 earnings per share for the current year.

CDW announced that its board has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDW. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Barclays lifted their price target on 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. cut CDW from an "overweight" rating to a "neutral" rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.67.

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.