WCM Investment Management LLC Purchases 306 Shares of CDW Co. (NASDAQ:CDW)

WCM Investment Management LLC raised its position in CDW Co. (NASDAQ:CDW) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,686 shares of the information technology services provider’s stock after acquiring an additional 306 shares during the quarter. WCM Investment Management LLC’s holdings in CDW were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in CDW during the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC raised its position in shares of CDW by 7,029.1% in the third 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 during the period. Holocene Advisors LP acquired a new stake in shares of CDW during the 3rd quarter worth about $172,217,000. Assenagon Asset Management S.A. lifted its stake in shares of 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 buying an additional 252,921 shares during the last quarter. Finally, Unigestion Holding SA boosted its holdings in shares of CDW by 917.4% during the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock worth $39,021,000 after buying an additional 155,517 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Morgan Stanley increased 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. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. 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. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Trading Down 0.2 %

NASDAQ CDW opened at $191.57 on Tuesday. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. 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 business’s fifty day moving average is $184.08 and its 200 day moving average is $201.70.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Announces Dividend

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 given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication 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.