Canada Pension Plan Investment Board Grows Holdings in CDW Co. (NASDAQ:CDW)

Canada Pension Plan Investment Board grew its position in CDW Co. (NASDAQ:CDW - Free Report) by 30.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,449 shares of the information technology services provider's stock after buying an additional 36,656 shares during the period. Canada Pension Plan Investment Board owned 0.12% of CDW worth $27,228,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in 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 purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust raised its stake in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP lifted its position in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in CDW during the 4th quarter valued at about $66,000. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

CDW stock traded down $1.54 during midday trading on Friday, reaching $157.40. The company had a trading volume of 272,348 shares, compared to its average volume of 1,174,192. The firm's fifty day simple moving average is $164.84 and its 200-day simple moving average is $181.85. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. The company has a market capitalization of $20.74 billion, a P/E ratio of 19.75, a P/E/G ratio of 3.21 and a beta of 0.97. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has initiated a share repurchase plan 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.59%. CDW's payout ratio is 31.37%.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research reports. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company 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. JPMorgan Chase & Co. cut their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $217.38.

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.