MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in CDW Co. (NASDAQ:CDW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CDW Co. (NASDAQ:CDW) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,672 shares of the information technology services provider’s stock after purchasing an additional 1,156 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of CDW worth $18,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the period. Optiver Holding B.V. grew its stake in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 119 shares in the last quarter. Finally, Canoe Financial LP raised its holdings in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CDW shares. Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup boosted their price target on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $216.38.

CDW Stock Down 0.7%

CDW opened at $189.36 on Thursday. The business’s fifty day simple moving average is $162.34 and its 200 day simple moving average is $177.11. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26. 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 $24.94 billion, a PE ratio of 23.76, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the company earned $1.92 EPS. The company’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, May 23rd. CDW’s payout ratio is presently 30.98%.

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

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

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.