CDW Co. (NASDAQ:CDW) Holdings Raised by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV grew its stake in shares of CDW Co. (NASDAQ:CDW) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 30,008 shares of the information technology services provider’s stock after acquiring an additional 1,466 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in CDW were worth $5,276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CDW. Allworth Financial LP grew its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust grew its stake 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 buying an additional 58 shares in the last quarter. Optiver Holding B.V. increased its holdings in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after buying an additional 119 shares during the last quarter. Finally, Canoe Financial LP raised its position in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the sale, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $188.43 on Friday. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The business’s 50 day moving average is $162.72 and its two-hundred day moving average is $176.90. The company has a market cap of $24.81 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.21 and a beta of 0.91. 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 (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the business posted $1.92 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.33%. CDW’s dividend payout ratio is 30.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their price target on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citigroup raised their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Barclays reduced their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $216.38.

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.