Mirae Asset Global Investments Co. Ltd. increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 289.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,228 shares of the information technology services provider's stock after buying an additional 108,648 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of CDW worth $33,241,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of CDW during the third quarter valued at $25,000. VisionPoint Advisory Group LLC purchased a new stake in shares of CDW during the third quarter valued at $28,000. TFC Financial Management Inc. lifted its holdings in shares of CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of CDW during the fourth quarter valued at $33,000. Finally, Orion Capital Management LLC purchased a new stake in shares of CDW during the third quarter valued at $35,000. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Stock Down 0.4 %
Shares of NASDAQ CDW traded down $0.93 during mid-day trading on Monday, reaching $254.26. 555,486 shares of the company traded hands, compared to its average volume of 708,645. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The stock has a market cap of $34.12 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.89 and a beta of 1.09. The company's fifty day moving average is $245.73 and its two-hundred day moving average is $225.09. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 EPS. On average, analysts expect that CDW Co. will post 9.88 earnings per share for the current year.
CDW announced that its Board of Directors has approved a share buyback program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.
CDW Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's dividend payout ratio (DPR) is currently 30.62%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Barclays increased their price objective on CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. Morgan Stanley downgraded CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price objective for the company. in a research note on Tuesday, December 12th. JPMorgan Chase & Co. increased their price objective on CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Finally, Citigroup upped their target price on CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.
Get Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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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