Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in CDW Co. (NASDAQ:CDW)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,380,123 shares of the information technology services provider's stock after acquiring an additional 64,140 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 1.03% of CDW worth $299,901,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in CDW in the third quarter worth $25,000. VisionPoint Advisory Group LLC purchased a new position in CDW during the third quarter valued at $28,000. Larson Financial Group LLC purchased a new position in CDW during the fourth quarter valued at $30,000. Orion Capital Management LLC purchased a new position in CDW during the third quarter valued at $35,000. Finally, ORG Partners LLC purchased a new position in CDW during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on CDW shares. JPMorgan Chase & Co. lowered their price objective on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Barclays lowered their price target on CDW from $261.00 to $232.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Stifel Nicolaus lowered their price target on CDW from $265.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Finally, Citigroup lowered their price target on CDW from $295.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $247.50.

CDW Stock Performance

NASDAQ CDW traded up $1.86 during trading hours on Wednesday, hitting $223.44. The company's stock had a trading volume of 648,890 shares, compared to its average volume of 717,166. CDW Co. has a 12 month low of $167.57 and a 12 month high of $263.37. The company's 50 day simple moving average is $241.82 and its two-hundred day simple moving average is $230.50. The company has a market cap of $30.03 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend 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 announced that its board has approved a stock buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

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.