iA Global Asset Management Inc. Raises Position in CDW Co. (NASDAQ:CDW)

iA Global Asset Management Inc. raised its holdings in CDW Co. (NASDAQ:CDW) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,024 shares of the information technology services provider’s stock after acquiring an additional 1,408 shares during the quarter. iA Global Asset Management Inc.’s holdings in CDW were worth $2,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after buying an additional 64,702 shares during the period. Geode Capital Management LLC boosted its position in CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in CDW in the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $165.57 on Friday. The company’s fifty day moving average price is $184.40 and its 200 day moving average price is $193.36. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. 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 capitalization of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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%. As a group, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.51%. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has approved a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CDW. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley raised 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.