Wellington Management Group LLP Buys 574,444 Shares of CDW Co. (NASDAQ:CDW)

Wellington Management Group LLP grew its position in CDW Co. (NASDAQ:CDW) by 29.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,538,775 shares of the information technology services provider’s stock after acquiring an additional 574,444 shares during the period. Wellington Management Group LLP owned 1.92% of CDW worth $441,848,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after acquiring an additional 99,947 shares during the period. State Street Corp grew its stake in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after purchasing an additional 64,702 shares during the last quarter. Geode Capital Management LLC increased its holdings in CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after purchasing an additional 31,858 shares during the period. Janus Henderson Group PLC raised its position in CDW by 7,029.1% during 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 purchasing an additional 1,446,025 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in CDW by 3.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock worth $255,434,000 after buying an additional 50,805 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of several recent research reports. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, 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 report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Performance

Shares of CDW stock opened at $160.26 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $158.76 and a 52 week high of $263.37. The firm has a 50 day moving average of $181.83 and a 200-day moving average of $190.93. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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 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, equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced 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 dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its board has approved a stock buyback program 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.