189 Shares in CDW Co. (NASDAQ:CDW) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 189 shares of the information technology services provider’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CDW. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC boosted its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new stake in CDW in the 3rd quarter valued at approximately $172,217,000. Proficio Capital Partners LLC boosted its holdings in CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted 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 valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 2.0 %

Shares of CDW stock opened at $166.05 on Wednesday. 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 1 year low of $164.96 and a 1 year high of $263.37. The company has a market capitalization of $22.00 billion, a P/E ratio of 20.83, a P/E/G ratio of 3.21 and a beta of 1.01. The business has a 50 day moving average price of $186.14 and a 200 day moving average price of $196.61.

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

CDW declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. CDW’s dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CDW shares. Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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 research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.