Sumitomo Mitsui Trust Group Inc. Purchases 1,327 Shares of CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui Trust Group Inc. raised its holdings in CDW Co. (NASDAQ:CDW) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 333,296 shares of the information technology services provider’s stock after buying an additional 1,327 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CDW were worth $58,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. Oddo BHF Asset Management Sas purchased a new position in CDW in the 3rd quarter worth about $1,629,000. Assenagon Asset Management S.A. grew its stake 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 in the last quarter. Franklin Resources Inc. increased its position in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares during the period. Czech National Bank raised its stake in shares of CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after acquiring an additional 1,685 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW in the third quarter worth approximately $12,761,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 3.9 %

Shares of CDW stock opened at $192.02 on Monday. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The firm’s 50 day moving average price is $183.86 and its 200-day moving average price is $201.96. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a market cap of $25.59 billion, a P/E ratio of 24.09, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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 net margin of 5.13% and a return on equity of 55.42%. On average, sell-side analysts predict that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

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

Wall Street Analyst Weigh In

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