CANADA LIFE ASSURANCE Co Has $27.06 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

CANADA LIFE ASSURANCE Co lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,547 shares of the information technology services provider's stock after selling 10,772 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.12% of CDW worth $27,057,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of CDW in the 4th quarter valued at about $144,826,000. Madison Investment Advisors LLC bought a new position in shares of CDW during the fourth quarter valued at approximately $130,996,000. Proficio Capital Partners LLC raised its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after purchasing an additional 683,446 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in 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 worth $441,848,000 after buying an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CDW shares. Citigroup reduced their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. 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, April 17th. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.38.

CDW Trading Down 1.0 %

NASDAQ CDW traded down $1.54 on Friday, hitting $157.40. 272,348 shares of the company were exchanged, compared to its average volume of 1,174,192. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The company's 50 day moving average price is $164.84 and its 200-day moving average price is $181.85. The firm has a market capitalization of $20.74 billion, a P/E ratio of 19.75, a price-to-earnings-growth 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 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%. Analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.59%. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are 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.