Marshall Wace LLP Buys New Shares in CDW Co. (NASDAQ:CDW)

Marshall Wace LLP purchased a new position in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, HoldingsChannel reports. The fund purchased 239,317 shares of the information technology services provider’s stock, valued at approximately $41,651,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new position in shares of CDW during the third quarter worth $1,629,000. Assenagon Asset Management S.A. raised its stake in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider’s stock valued at $21,191,000 after buying an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in shares of CDW in the 4th quarter valued at about $130,996,000. Finally, Graphene Investments SAS boosted 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 buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $151.47 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $19.96 billion, a PE ratio of 19.01, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The company has a fifty day moving average of $168.47 and a two-hundred day moving average of $184.14.

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, 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%. As a group, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.65%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley increased their price target 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. Citigroup cut their price objective on shares of CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $217.38.

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.