Mitsubishi UFJ Trust & Banking Corp Acquires 79 Shares of CDW Co. (NASDAQ:CDW)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,433 shares of the information technology services provider’s stock after acquiring an additional 79 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of CDW worth $14,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Brooklyn Investment Group purchased a new position in shares of CDW during the 3rd quarter worth approximately $90,000. BNP Paribas Financial Markets boosted its position in shares of CDW by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 241,781 shares of the information technology services provider’s stock valued at $54,715,000 after purchasing an additional 14,817 shares in the last quarter. Townsquare Capital LLC grew its stake in CDW by 9.9% in the third quarter. Townsquare Capital LLC now owns 17,650 shares of the information technology services provider’s stock worth $3,994,000 after purchasing an additional 1,589 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in CDW by 667.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,393 shares of the information technology services provider’s stock worth $21,587,000 after purchasing an additional 82,970 shares in the last quarter. Finally, Fiduciary Trust Co lifted its position in CDW by 109.7% during the third quarter. Fiduciary Trust Co now owns 3,874 shares of the information technology services provider’s stock valued at $877,000 after buying an additional 2,027 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.4 %

Shares of NASDAQ CDW opened at $161.51 on Friday. The firm’s 50 day moving average price is $182.40 and its 200-day moving average price is $191.68. CDW Co. has a 52-week low of $160.96 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The company has a market cap of $21.40 billion, a PE ratio of 20.26, a P/E/G ratio of 3.21 and a beta of 1.01.

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

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.55%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its board has initiated a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

About CDW

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.