Cibc World Markets Corp Increases Stock Position in CDW Co. (NASDAQ:CDW)

Cibc World Markets Corp boosted its stake in CDW Co. (NASDAQ:CDW) by 13.5% during the fourth quarter, HoldingsChannel reports. The firm owned 23,972 shares of the information technology services provider’s stock after buying an additional 2,842 shares during the period. Cibc World Markets Corp’s holdings in CDW were worth $4,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after acquiring an additional 64,702 shares during the last quarter. Geode Capital Management LLC grew its position in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after acquiring an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC grew its position in CDW by 7,029.1% during 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 last quarter. Finally, Barclays PLC grew its position in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after acquiring an additional 3,424 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $172.84 on Thursday. The stock has a market cap of $22.90 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The firm’s fifty day simple moving average is $185.01 and its 200 day simple moving average is $193.96. CDW Co. has a twelve month low of $162.84 and a twelve month 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.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.