Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 13.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,611 shares of the information technology services provider's stock after purchasing an additional 1,991 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in CDW were worth $2,891,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDW. Canoe Financial LP purchased a new stake in shares of CDW during the third quarter valued at about $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter valued at approximately $43,000. Covestor Ltd lifted its holdings in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of CDW during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective for the company. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $242.67.

CDW Stock Performance

CDW stock traded down $1.35 during trading on Thursday, hitting $187.59. 1,120,550 shares of the company traded hands, compared to its average volume of 1,412,643. The stock's 50-day simple moving average is $184.72 and its 200 day simple moving average is $201.25. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The company has a market cap of $25.00 billion, a PE ratio of 23.54, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

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

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's payout ratio is presently 31.37%.

CDW announced that its board has approved a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in 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 programs are usually a sign that the company's leadership believes its shares are 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.