Metis Global Partners LLC Acquires 221 Shares of CDW Co. (NASDAQ:CDW)

Metis Global Partners LLC increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,516 shares of the information technology services provider’s stock after buying an additional 221 shares during the quarter. Metis Global Partners LLC’s holdings in CDW were worth $786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its stake in CDW by 11.0% during the third quarter. Van ECK Associates Corp now owns 24,619 shares of the information technology services provider’s stock worth $5,358,000 after acquiring an additional 2,441 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of CDW during the 3rd quarter valued at approximately $543,000. National Pension Service increased its position in CDW by 0.9% during the 3rd quarter. National Pension Service now owns 207,541 shares of the information technology services provider’s stock worth $46,967,000 after purchasing an additional 1,796 shares in the last quarter. PDS Planning Inc lifted its stake in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in CDW by 6.0% in the third quarter. Impax Asset Management Group plc now owns 33,653 shares of the information technology services provider’s stock valued at $7,616,000 after buying an additional 1,902 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDW has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Price Performance

CDW stock opened at $171.32 on Wednesday. The firm has a market cap of $22.70 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.21 and a beta of 1.01. The stock’s 50 day moving average is $186.74 and its 200 day moving average is $198.47. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.46%. CDW’s payout ratio is currently 31.37%.

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.