Mawer Investment Management Ltd. Decreases Stake in CDW Co. (NASDAQ:CDW)

Mawer Investment Management Ltd. lowered its position in CDW Co. (NASDAQ:CDW - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,074,171 shares of the information technology services provider's stock after selling 52,639 shares during the period. CDW comprises about 3.6% of Mawer Investment Management Ltd.'s portfolio, making the stock its 8th largest position. Mawer Investment Management Ltd. owned about 2.29% of CDW worth $698,821,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. VisionPoint Advisory Group LLC increased its position in shares of CDW by 244.9% during the 4th quarter. VisionPoint Advisory Group LLC now owns 476 shares of the information technology services provider's stock valued at $108,000 after purchasing an additional 338 shares during the last quarter. Principal Securities Inc. bought a new stake in CDW in the fourth quarter worth about $392,000. E Fund Management Co. Ltd. grew its position in shares of CDW by 85.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 2,262 shares of the information technology services provider's stock valued at $514,000 after acquiring an additional 1,044 shares during the period. Everpar Advisors LLC bought a new stake in shares of CDW in the 4th quarter worth approximately $215,000. Finally, Centric Wealth Management lifted its stake in CDW by 3.5% in the fourth quarter. Centric Wealth Management now owns 17,542 shares of the information technology services provider's stock valued at $4,047,000 after purchasing an additional 588 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup dropped their price target on CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. Barclays dropped their price target on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $247.50.

CDW Price Performance

Shares of CDW traded down $0.51 during mid-day trading on Friday, reaching $222.46. 676,696 shares of the stock traded hands, compared to its average volume of 784,679. CDW Co. has a 1 year low of $166.37 and a 1 year high of $263.37. The firm has a fifty day moving average price of $243.26 and a 200 day moving average price of $230.00. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The company has a market cap of $29.90 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.28 and a beta of 1.09.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that CDW Co. will post 9.68 earnings per share for the current year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW's payout ratio is currently 30.96%.

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.