Wellington Management Group LLP Acquires 574,444 Shares of CDW Co. (NASDAQ:CDW)

Wellington Management Group LLP boosted its position in CDW Co. (NASDAQ:CDW - Free Report) by 29.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,538,775 shares of the information technology services provider's stock after buying an additional 574,444 shares during the quarter. Wellington Management Group LLP owned approximately 1.92% of CDW worth $441,848,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in shares of CDW in the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. raised its stake in CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. boosted its holdings in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after purchasing an additional 3,567 shares during the period. Madison Investment Advisors LLC acquired a new stake in CDW in the 4th quarter worth $130,996,000. Finally, Graphene Investments SAS increased its holdings in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 93.15% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDW shares. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.50.

CDW Price Performance

Shares of CDW stock traded down $7.08 during midday trading on Friday, hitting $144.49. 4,384,228 shares of the company were exchanged, compared to its average volume of 1,119,728. The firm has a 50 day simple moving average of $178.71 and a 200-day simple moving average of $189.30. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a market cap of $19.14 billion, a P/E ratio of 18.13, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $141.80 and a 52 week high of $257.33.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.73%. CDW's dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are 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.