Mufg Securities Americas Inc. Invests $343,000 in CDW Co. (NASDAQ:CDW)

Mufg Securities Americas Inc. bought a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,968 shares of the information technology services provider's stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Assenagon Asset Management S.A. raised its position in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after purchasing an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of CDW in the 4th quarter valued at $130,996,000. Graphene Investments SAS raised its holdings in shares of CDW by 17.6% in the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Transactions at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction that occurred 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 directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CDW. UBS Group reduced their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective 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. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays cut their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup lifted their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

CDW Stock Performance

Shares of CDW stock traded up $0.06 during trading hours on Tuesday, reaching $188.10. The company's stock had a trading volume of 770,682 shares, compared to its average volume of 1,218,226. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market cap of $24.77 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. CDW Co. has a one year low of $137.31 and a one year high of $241.26. The company's 50 day simple moving average is $163.60 and its 200 day simple moving average is $176.48.

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

CDW declared that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company's board believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared 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 1.33%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

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.