Pictet Asset Management Holding SA Raises Holdings in CDW Co. (NASDAQ:CDW)

Pictet Asset Management Holding SA raised its holdings in CDW Co. (NASDAQ:CDW) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,473 shares of the information technology services provider’s stock after purchasing an additional 5,067 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CDW were worth $11,221,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP raised its position in CDW by 39.7% in the fourth 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. OFI Invest Asset Management purchased a new stake in shares of CDW in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP boosted its holdings in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in CDW in the 4th quarter valued at about $69,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW opened at $164.47 on Thursday. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.21 and a beta of 1.01. The firm’s fifty day simple moving average is $180.64 and its 200-day simple moving average is $190.34. CDW Co. has a twelve month low of $158.76 and a twelve month high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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 forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays raised their price objective 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 boosted their price target on shares of 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 reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Company 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.