Sumitomo Mitsui Trust Holdings Inc. Has $79.20 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CDW Co. (NASDAQ:CDW) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 348,384 shares of the information technology services provider’s stock after purchasing an additional 26,529 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of CDW worth $79,195,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock valued at $1,165,000 after acquiring an additional 547 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CDW during the 1st quarter valued at $103,000. Panagora Asset Management Inc. boosted its holdings in shares of CDW by 160.4% during the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock valued at $831,000 after acquiring an additional 2,861 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of CDW by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock valued at $3,671,000 after acquiring an additional 65 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of CDW by 1.5% during the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock valued at $6,078,000 after acquiring an additional 515 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CDW shares. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays raised their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Citigroup raised their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.90.

CDW Stock Performance

Shares of CDW stock opened at $236.78 on Thursday. CDW Co. has a one year low of $160.66 and a one year high of $263.37. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09. The business has a 50-day simple moving average of $247.57 and a 200 day simple moving average of $226.99. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.40 EPS. On average, research analysts anticipate that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. CDW’s dividend payout ratio (DPR) is currently 30.62%.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.