CDW Co. (NASDAQ:CDW) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of CDW Co. (NASDAQ:CDW) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,974 shares of the information technology services provider’s stock after acquiring an additional 355 shares during the period. Van ECK Associates Corp’s holdings in CDW were worth $4,346,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new stake in CDW during the 3rd quarter worth about $1,629,000. Assenagon Asset Management S.A. increased its holdings in CDW by 7,549.9% during 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 purchasing an additional 252,921 shares during the period. Franklin Resources Inc. increased its holdings in CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the period. Graphene Investments SAS increased its holdings in CDW by 17.6% during the 4th 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. Finally, Czech National Bank increased its holdings in CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after purchasing an additional 1,685 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.6 %

NASDAQ:CDW opened at $192.46 on Wednesday. The stock’s 50 day moving average price is $185.32 and its 200 day moving average price is $200.32. The company has a market capitalization of $25.65 billion, a PE ratio of 24.15, a P/E/G ratio of 5.40 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52-week low of $168.43 and a 52-week 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts anticipate that CDW Co. will post 9.35 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. CDW’s payout ratio is 31.37%.

CDW announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CDW shares. Barclays upped their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.