Nomura Asset Management Co. Ltd. Purchases 161,568 Shares of CDW Co. (NASDAQ:CDW)

Nomura Asset Management Co. Ltd. grew its position in CDW Co. (NASDAQ:CDW) by 64.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 412,071 shares of the information technology services provider’s stock after purchasing an additional 161,568 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.31% of CDW worth $71,717,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CDW. Oddo BHF Asset Management Sas acquired a new stake in CDW during the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. grew its position 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 period. Franklin Resources Inc. increased its stake in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of CDW during the 4th quarter valued at $130,996,000. Finally, Graphene Investments SAS boosted its stake in CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after acquiring an additional 2,600 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $163.84 on Friday. CDW Co. has a 52 week low of $161.19 and a 52 week high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average price of $182.94 and a 200-day moving average price of $192.05. The company has a market cap of $21.71 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.21 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 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%. Equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CDW shares. Barclays lifted their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

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.