CDW Co. (NASDAQ:CDW) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its stake in CDW Co. (NASDAQ:CDW) by 85.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,262 shares of the information technology services provider’s stock after purchasing an additional 1,044 shares during the quarter. E Fund Management Co. Ltd.’s holdings in CDW were worth $514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock valued at $146,971,000 after acquiring an additional 348,749 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of CDW by 459.5% during the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock worth $50,898,000 after buying an additional 207,184 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of CDW by 54.3% during the third quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock worth $113,261,000 after buying an additional 197,479 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CDW by 1,304.0% during the third quarter. Assenagon Asset Management S.A. now owns 209,667 shares of the information technology services provider’s stock worth $42,302,000 after buying an additional 194,733 shares in the last quarter. Finally, EULAV Asset Management purchased a new stake in CDW in the third quarter valued at approximately $24,213,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CDW. JPMorgan Chase & Co. lowered their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus reduced their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI upped their price target on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Citigroup cut their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays dropped their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Price Performance

CDW stock traded down $0.36 during trading hours on Wednesday, hitting $220.32. 753,675 shares of the company traded hands, compared to its average volume of 722,447. The firm has a market cap of $29.61 billion, a P/E ratio of 27.51, a P/E/G ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The firm’s 50-day simple moving average is $244.22 and its two-hundred day simple moving average is $229.68. CDW Co. has a 1-year low of $164.62 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.16% and a return on equity of 67.56%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm posted $2.40 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW Company 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.