Pictet Asset Management Holding SA Purchases 5,067 Shares of CDW Co. (NASDAQ:CDW)

Pictet Asset Management Holding SA increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,473 shares of the information technology services provider's stock after buying an additional 5,067 shares during the period. Pictet Asset Management Holding SA's holdings in CDW were worth $11,221,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Centiva Capital LP bought a new position in shares of CDW in the 3rd quarter valued at about $447,000. Hilltop Holdings Inc. lifted its position in CDW by 34.9% in the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider's stock worth $388,000 after buying an additional 443 shares during the last quarter. Janus Henderson Group PLC boosted its stake in CDW by 7,029.1% during 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 buying an additional 1,446,025 shares during the period. Investment Management Corp of Ontario increased its position in CDW by 49.5% during the third quarter. Investment Management Corp of Ontario now owns 4,531 shares of the information technology services provider's stock valued at $1,025,000 after acquiring an additional 1,500 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of CDW by 16.5% in the 3rd quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider's stock worth $353,000 after acquiring an additional 231 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

CDW has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $235.50.

CDW Stock Up 1.9 %

Shares of CDW stock traded up $2.71 during mid-day trading on Monday, hitting $147.20. The stock had a trading volume of 3,810,659 shares, compared to its average volume of 1,130,590. The firm has a market capitalization of $19.50 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 12-month low of $137.31 and a 12-month high of $257.33. The firm's 50-day moving average is $177.78 and its two-hundred day moving average is $188.51.

CDW (NASDAQ:CDW - Get Free Report) last released 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 net margin of 5.13% and a return on equity of 55.42%. On average, analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 31.37%.

CDW 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.