Caisse DE Depot ET Placement DU Quebec Acquires 26,800 Shares of CDW Co. (NASDAQ:CDW)

Caisse DE Depot ET Placement DU Quebec lifted its position in CDW Co. (NASDAQ:CDW - Free Report) by 2,812.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,753 shares of the information technology services provider's stock after buying an additional 26,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in CDW were worth $4,830,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CDW. Schonfeld Strategic Advisors LLC grew its holdings in shares of CDW by 659.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 50,103 shares of the information technology services provider's stock valued at $8,720,000 after purchasing an additional 43,507 shares during the last quarter. Northern Trust Corp increased its holdings in shares of CDW by 15.3% in the fourth quarter. Northern Trust Corp now owns 1,442,637 shares of the information technology services provider's stock worth $251,077,000 after buying an additional 191,037 shares during the period. Optiver Holding B.V. lifted its stake in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 119 shares during the last quarter. Quarry LP purchased a new stake in CDW during the 4th quarter valued at about $48,000. Finally, Berger Financial Group Inc grew its position in CDW by 2.8% during the 4th quarter. Berger Financial Group Inc now owns 22,793 shares of the information technology services provider's stock worth $3,967,000 after acquiring an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDW. Barclays dropped their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday. UBS Group cut their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday. Citigroup upped their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.38.

CDW Stock Up 2.6 %

Shares of NASDAQ:CDW traded up $4.57 during trading on Thursday, hitting $180.09. The stock had a trading volume of 2,409,968 shares, compared to its average volume of 1,198,779. 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 Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The company has a market capitalization of $23.73 billion, a PE ratio of 22.60, a PEG ratio of 3.21 and a beta of 0.91. The firm's fifty day moving average is $160.82 and its 200 day moving average is $178.24.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the business posted $1.92 EPS. The company's quarterly revenue was up 6.7% on a year-over-year basis. Analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's payout ratio is 31.37%.

CDW declared that its board has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.