CIBC Asset Management Inc Has $7.47 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

CIBC Asset Management Inc lifted its position in shares of CDW Co. (NASDAQ:CDW) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 42,896 shares of the information technology services provider’s stock after buying an additional 1,222 shares during the quarter. CIBC Asset Management Inc’s holdings in CDW were worth $7,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new position in CDW during the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 252,921 shares during the last quarter. Franklin Resources Inc. raised its position in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares during the last quarter. Graphene Investments SAS lifted its stake in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after acquiring an additional 2,600 shares during the period. Finally, Czech National Bank boosted its stake in shares of CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after purchasing an additional 1,685 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $194.50 on Thursday. The firm has a market capitalization of $25.92 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 3.16 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. 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 company has a fifty day simple moving average of $185.64 and a two-hundred day simple moving average of $200.28.

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, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

CDW has been the topic of several research analyst reports. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley raised their target price on 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. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays lifted 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average 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.