CDW Co. (NASDAQ:CDW) Shares Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC increased its stake in CDW Co. (NASDAQ:CDW) by 257.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,057 shares of the information technology services provider’s stock after purchasing an additional 3,643 shares during the period. Blueshift Asset Management LLC’s holdings in CDW were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. iA Global Asset Management Inc. boosted its stake in CDW by 10.3% in the 4th quarter. iA Global Asset Management Inc. now owns 15,024 shares of the information technology services provider’s stock worth $2,615,000 after purchasing an additional 1,408 shares in the last quarter. Magnetar Financial LLC purchased a new position in CDW during the 4th quarter worth approximately $516,000. Harvest Fund Management Co. Ltd raised its position in CDW by 27.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,843 shares of the information technology services provider’s stock worth $1,365,000 after buying an additional 1,690 shares during the last quarter. Intech Investment Management LLC raised its position in CDW by 1,080.2% during the 4th quarter. Intech Investment Management LLC now owns 115,307 shares of the information technology services provider’s stock worth $20,068,000 after buying an additional 105,537 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in CDW by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 610,948 shares of the information technology services provider’s stock worth $106,356,000 after buying an additional 11,048 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

NASDAQ:CDW opened at $172.84 on Thursday. 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 cap of $22.90 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a 50 day moving average price of $185.01 and a 200-day moving average price of $193.96. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued 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%. Equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is presently 31.37%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CDW shares. Barclays raised their price target on shares of 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 price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW 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.