CDW Co. (NASDAQ:CDW) Shares Purchased by Pragma Gestao DE Patrimonio Ltd.

Pragma Gestao DE Patrimonio Ltd. lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,000 shares of the information technology services provider’s stock after purchasing an additional 9,000 shares during the period. CDW comprises approximately 7.3% of Pragma Gestao DE Patrimonio Ltd.’s holdings, making the stock its 6th biggest holding. Pragma Gestao DE Patrimonio Ltd. owned 0.06% of CDW worth $13,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the period. Holocene Advisors LP acquired a new position in CDW during the third quarter valued at approximately $172,217,000. Madison Investment Advisors LLC acquired a new position in CDW during the fourth quarter valued at approximately $130,996,000. Proficio Capital Partners LLC increased its position in shares of CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after acquiring an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of CDW by 7,549.9% in the 4th 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 acquiring an additional 252,921 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $167.33 on Thursday. The company has a market cap of $22.17 billion, a PE ratio of 20.99, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $162.84 and a fifty-two 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 firm has a 50-day simple moving average of $183.42 and a 200 day simple moving average of $192.25.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

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

Wall Street Analyst Weigh In

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

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.