Axa S.A. Boosts Stake in CDW Co. (NASDAQ:CDW)

AXA S.A. raised its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,519 shares of the information technology services provider's stock after purchasing an additional 5,503 shares during the period. AXA S.A.'s holdings in CDW were worth $8,096,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of CDW in the fourth quarter worth approximately $144,826,000. Madison Investment Advisors LLC bought a new position in CDW in the 4th quarter valued at approximately $130,996,000. Proficio Capital Partners LLC boosted its stake in 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 valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA increased 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 in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of CDW by 29.2% in 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 purchasing an additional 574,444 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CDW shares. Citigroup lifted their price objective on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays decreased their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday. UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus target price of $216.38.

CDW Stock Performance

Shares of CDW stock traded down $1.15 during trading hours on Friday, reaching $178.94. 1,101,293 shares of the company traded hands, compared to its average volume of 1,202,436. The firm has a 50-day moving average price of $161.13 and a 200 day moving average price of $177.42. The company has a market cap of $23.58 billion, a P/E ratio of 22.45, a P/E/G 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.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio (DPR) is 31.37%.

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

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

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.