Meiji Yasuda Asset Management Co Ltd. Has $471,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Meiji Yasuda Asset Management Co Ltd. lowered its stake in CDW Co. (NASDAQ:CDW) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,704 shares of the information technology services provider’s stock after selling 110 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in CDW were worth $471,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of CDW by 7,029.1% in the third 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 acquiring an additional 1,446,025 shares during the period. Holocene Advisors LP acquired a new stake in CDW in the 3rd quarter worth about $172,217,000. Madison Investment Advisors LLC bought a new stake in CDW in the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC grew its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the period. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDW. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced their target price on 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 boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Stock Performance

CDW stock opened at $163.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market cap of $21.71 billion, a PE ratio of 20.56, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $161.19 and a 12-month high of $263.37. The business’s 50-day moving average price is $182.94 and its two-hundred day moving average price is $192.05.

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

CDW declared that its board has approved a stock repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The company 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 dividend yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

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.