BLI Banque de Luxembourg Investments Purchases Shares of 73,500 CDW Co. (NASDAQ:CDW)

BLI Banque de Luxembourg Investments purchased a new position in CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 73,500 shares of the information technology services provider's stock, valued at approximately $12,740,000. BLI Banque de Luxembourg Investments owned approximately 0.06% of CDW as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of CDW by 7,549.9% in 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 buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 worth $21,191,000 after acquiring an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of CDW during the 4th quarter valued at approximately $130,996,000. Graphene Investments SAS grew its holdings 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 valued at $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after buying an additional 574,444 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup cut their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. 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. UBS Group cut their price target 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. Finally, Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Stock Down 0.9 %

Shares of CDW stock traded down $1.46 during mid-day trading on Tuesday, hitting $164.29. The stock had a trading volume of 1,391,516 shares, compared to its average volume of 1,184,413. The firm has a market capitalization of $21.65 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. 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 Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The firm's 50-day moving average is $160.88 and its two-hundred day moving average is $178.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. On average, analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management 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.