Intech Investment Management LLC Grows Stake in CDW Co. (NASDAQ:CDW)

Intech Investment Management LLC lifted its position in CDW Co. (NASDAQ:CDW) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,459 shares of the information technology services provider’s stock after buying an additional 10,006 shares during the period. Intech Investment Management LLC owned approximately 0.07% of CDW worth $21,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CDW by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after purchasing an additional 64,140 shares in the last quarter. Northern Trust Corp lifted its position in CDW by 1.6% during the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock valued at $268,568,000 after purchasing an additional 20,345 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of CDW by 3.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after acquiring an additional 41,472 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CDW by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock valued at $258,196,000 after acquiring an additional 33,235 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of CDW by 2.1% in the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock valued at $205,014,000 after acquiring an additional 20,934 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 0.2 %

Shares of CDW traded down $0.51 during mid-day trading on Friday, reaching $231.06. 556,703 shares of the company’s stock traded hands, compared to its average volume of 878,937. The stock has a market cap of $31.05 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.40 and a beta of 1.09. The stock’s 50-day moving average is $239.23 and its two-hundred day moving average is $231.71. CDW Co. has a 12 month low of $167.73 and a 12 month high of $263.37. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Research analysts forecast that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. CDW’s payout ratio is 30.96%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CDW shares. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays lowered their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus reduced their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Evercore ISI boosted their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

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.