Janus Henderson Group PLC Acquires 157,747 Shares of CDW Co. (NASDAQ:CDW)

Janus Henderson Group PLC grew its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,624,344 shares of the information technology services provider's stock after purchasing an additional 157,747 shares during the period. Janus Henderson Group PLC owned about 1.22% of CDW worth $282,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Jacobi Capital Management LLC boosted its holdings in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after purchasing an additional 61 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of CDW by 1.7% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock valued at $735,000 after purchasing an additional 69 shares during the period. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of research reports. Morgan Stanley boosted 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 CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday. Barclays lowered their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Citigroup upped their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $216.38.

CDW Stock Performance

Shares of CDW opened at $178.94 on Monday. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The stock has a fifty day moving average price of $161.13 and a 200-day moving average price of $177.13. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a market cap of $23.56 billion, a PE ratio of 22.45, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW's dividend payout ratio (DPR) is 30.98%.

CDW announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by company insiders.

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.

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