Mitsubishi UFJ Asset Management Co. Ltd. Buys 50,805 Shares of CDW Co. (NASDAQ:CDW)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CDW Co. (NASDAQ:CDW) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,466,071 shares of the information technology services provider’s stock after acquiring an additional 50,805 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CDW were worth $255,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in CDW in the fourth quarter worth $32,000. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP lifted its position in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of CDW in the 4th quarter worth about $69,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CDW. Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW Price Performance

Shares of NASDAQ:CDW opened at $167.33 on Thursday. The company has a market capitalization of $22.17 billion, a P/E ratio of 20.99, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37. The firm’s 50 day simple moving average is $183.42 and its two-hundred day simple moving average is $192.25. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

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

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.