CDW Co. (NASDAQ:CDW) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,459 shares of the information technology services provider's stock after purchasing an additional 10,006 shares during the quarter. Intech Investment Management LLC owned about 0.07% of CDW worth $21,472,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of CDW by 4.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider's stock valued at $299,901,000 after acquiring an additional 64,140 shares during the period. Northern Trust Corp raised its stake in shares of CDW by 1.6% in the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider's stock valued at $268,568,000 after acquiring an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of CDW by 3.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider's stock valued at $265,513,000 after acquiring an additional 41,472 shares during the period. Dimensional Fund Advisors LP increased its stake in CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider's stock worth $258,196,000 after buying an additional 33,235 shares during the period. Finally, Barclays PLC increased its stake in CDW by 2.1% in the 3rd quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider's stock worth $205,014,000 after buying an additional 20,934 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CDW. Barclays reduced their price target on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday, May 2nd. Evercore ISI raised their price target on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. Citigroup reduced their price target on shares of CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus reduced their price target on shares of CDW from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average target price of $247.50.

CDW Stock Down 0.2 %

Shares of NASDAQ:CDW traded down $0.51 during trading on Friday, reaching $231.06. The stock had a trading volume of 556,703 shares, compared to its average volume of 878,937. CDW Co. has a one year low of $167.73 and a one year high of $263.37. The company has a market capitalization of $31.05 billion, a P/E ratio of 28.85, a PEG ratio of 3.40 and a beta of 1.09. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The firm's 50-day simple moving average is $239.23 and its 200 day simple moving average is $231.87.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. As a group, research analysts expect that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 23rd. CDW's dividend payout ratio is currently 30.96%.

CDW declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign 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.