Mawer Investment Management Ltd. Cuts Stake in CDW Co. (NASDAQ:CDW)

Mawer Investment Management Ltd. lessened its holdings in CDW Co. (NASDAQ:CDW) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,041,920 shares of the information technology services provider’s stock after selling 34,564 shares during the quarter. CDW accounts for 2.4% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 13th biggest position. Mawer Investment Management Ltd. owned 2.28% of CDW worth $529,416,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas bought a new position in shares of CDW in the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. grew its holdings in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares during the last quarter. Franklin Resources Inc. increased its position in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares during the period. Madison Investment Advisors LLC bought a new position in shares of CDW during the fourth quarter valued at about $130,996,000. Finally, Graphene Investments SAS boosted its holdings in shares of CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after purchasing an additional 2,600 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Performance

Shares of CDW stock opened at $161.51 on Friday. The company’s fifty day moving average price is $182.40 and its 200-day moving average price is $191.51. 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. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12 month low of $160.96 and a 12 month 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, 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%. On average, equities analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its board has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors 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.