Impax Asset Management Group plc Has $7.19 Million Position in CDW Co. (NASDAQ:CDW)

Impax Asset Management Group plc increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,295 shares of the information technology services provider’s stock after acquiring an additional 7,642 shares during the quarter. Impax Asset Management Group plc’s holdings in CDW were worth $7,187,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Canoe Financial LP acquired a new position in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC boosted its stake in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Allworth Financial LP boosted its stake in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Ashton Thomas Securities LLC bought a new stake in CDW in the 3rd quarter valued at $43,000. Finally, Covestor Ltd boosted its stake in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays boosted 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. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Up 0.1 %

NASDAQ CDW opened at $186.69 on Tuesday. The business has a fifty day moving average price of $186.32 and a two-hundred day moving average price of $199.79. The stock has a market capitalization of $24.88 billion, a PE ratio of 23.42, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. 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 (NASDAQ:CDW) last announced 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 return on equity of 55.42% and a net margin of 5.13%. Equities analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is 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.