Canada Pension Plan Investment Board Acquires 36,656 Shares of CDW Co. (NASDAQ:CDW)

Canada Pension Plan Investment Board increased its holdings in CDW Co. (NASDAQ:CDW) by 30.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 156,449 shares of the information technology services provider’s stock after buying an additional 36,656 shares during the period. Canada Pension Plan Investment Board’s holdings in CDW were worth $27,228,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CDW. Allworth Financial LP raised its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new position in CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP increased its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of CDW during the 4th quarter worth $66,000. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 1.8 %

Shares of CDW opened at $151.47 on Friday. The stock’s 50-day moving average price is $167.67 and its two-hundred day moving average price is $183.44. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. The company has a market capitalization of $19.96 billion, a PE ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. 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 announced 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%. On average, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.65%. CDW’s payout ratio is currently 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays upped their price objective 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. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup lowered their target price on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $217.38.

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.