Sumitomo Mitsui DS Asset Management Company Ltd Has $3.01 Million Stock Position in CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in CDW Co. (NASDAQ:CDW) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 13,256 shares of the information technology services provider’s stock after purchasing an additional 1,231 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CDW were worth $3,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. Northern Trust Corp boosted its position in CDW by 1.6% during the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after acquiring an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in CDW by 3.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after acquiring an additional 41,472 shares during the period. Barclays PLC boosted its position in CDW by 2.1% during the 3rd quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after acquiring an additional 20,934 shares during the period. American Century Companies Inc. boosted its position in CDW by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after acquiring an additional 20,152 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock valued at $165,244,000 after buying an additional 7,854 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Up 1.2 %

Shares of CDW stock opened at $240.47 on Wednesday. The stock’s 50 day simple moving average is $247.13 and its 200 day simple moving average is $227.87. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.67 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 EPS. As a group, research analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is currently 30.62%.

CDW declared that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDW shares. Barclays lifted their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Citigroup lifted their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.