Marshall Wace LLP Invests $41.65 Million in CDW Co. (NASDAQ:CDW)

Marshall Wace LLP bought a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 239,317 shares of the information technology services provider's stock, valued at approximately $41,651,000. Marshall Wace LLP owned about 0.18% of CDW as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CDW. Vanguard Group Inc. lifted its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its stake in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% during the fourth 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 during the last quarter. Invesco Ltd. boosted its stake in shares of CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in 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 buying an additional 575,333 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CDW shares. UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Citigroup lowered their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $217.38.

CDW Stock Performance

Shares of CDW stock traded up $2.94 during trading on Wednesday, hitting $154.97. 307,007 shares of the company's stock were exchanged, compared to its average volume of 1,169,765. The business has a 50-day simple moving average of $166.14 and a 200-day simple moving average of $182.47. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 3.21 and a beta of 0.97. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 52-week low of $137.31 and a 52-week high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

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

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.61%. CDW's dividend payout ratio is presently 31.37%.

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.