Thrivent Financial for Lutherans Increases Stake in CDW Co. (NASDAQ:CDW)

Thrivent Financial for Lutherans lifted its holdings in CDW Co. (NASDAQ:CDW) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 610,948 shares of the information technology services provider’s stock after purchasing an additional 11,048 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CDW were worth $106,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CDW. Oddo BHF Asset Management Sas bought a new stake in shares of CDW in the third quarter valued at about $1,629,000. Assenagon Asset Management S.A. boosted its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. boosted its position in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Graphene Investments SAS raised its stake in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after buying an additional 2,600 shares during the period. Finally, Czech National Bank raised its stake in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after buying an additional 1,685 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Up 2.2 %

CDW opened at $170.63 on Tuesday. CDW Co. has a one year low of $162.84 and a one year high of $263.37. The company has a market cap of $22.61 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.21 and a beta of 1.01. The business’s fifty day moving average is $185.39 and its two-hundred day moving average is $194.50. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is 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 1.47%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

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.