UniSuper Management Pty Ltd Buys 3,772 Shares of CDW Co. (NASDAQ:CDW)

UniSuper Management Pty Ltd boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,349 shares of the information technology services provider’s stock after buying an additional 3,772 shares during the period. UniSuper Management Pty Ltd’s holdings in CDW were worth $5,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Elo Mutual Pension Insurance Co grew its stake in shares of CDW by 21.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 14,436 shares of the information technology services provider’s stock worth $2,512,000 after acquiring an additional 2,543 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CDW by 3.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock valued at $255,434,000 after purchasing an additional 50,805 shares during the last quarter. Florida Financial Advisors LLC grew its position in CDW by 22.6% during the 4th quarter. Florida Financial Advisors LLC now owns 3,024 shares of the information technology services provider’s stock valued at $526,000 after purchasing an additional 557 shares during the last quarter. Bay Capital Advisors LLC bought a new stake in CDW during the 4th quarter valued at about $261,000. Finally, FineMark National Bank & Trust raised its holdings in CDW by 46.0% in the fourth quarter. FineMark National Bank & Trust now owns 83,078 shares of the information technology services provider’s stock worth $14,459,000 after buying an additional 26,161 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced 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. Finally, Barclays upped their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Stock Down 1.4 %

CDW stock opened at $161.51 on Friday. CDW Co. has a one year low of $160.96 and a one year high of $263.37. The stock has a fifty day moving average of $182.40 and a 200 day moving average of $191.68. 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 stock has a market cap of $21.40 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

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

CDW declared that its Board of Directors has approved a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.