Wellington Management Group LLP Boosts Holdings in CDW Co. (NASDAQ:CDW)

Wellington Management Group LLP increased its stake in shares of CDW Co. (NASDAQ:CDW) by 29.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,464,886 shares of the information technology services provider’s stock after purchasing an additional 781,421 shares during the period. Wellington Management Group LLP owned 2.58% of CDW worth $787,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS Group AG raised its position in shares of CDW by 60.7% in the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after buying an additional 73,503 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CDW by 16.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after purchasing an additional 6,799 shares during the last quarter. Cerity Partners LLC grew its position in shares of CDW by 44.9% in the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after purchasing an additional 4,511 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after purchasing an additional 55,239 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after buying an additional 7,310 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays decreased 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. Stifel Nicolaus cut their target price on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Friday, June 7th. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.00.

CDW Stock Down 0.8 %

NASDAQ CDW traded down $1.91 on Friday, hitting $223.19. 577,970 shares of the stock were exchanged, compared to its average volume of 836,922. CDW Co. has a fifty-two week low of $170.96 and a fifty-two week high of $263.37. The company has a 50-day moving average price of $230.45 and a 200-day moving average price of $232.82. The company has a market cap of $30.00 billion, a PE ratio of 27.86, a PEG ratio of 3.29 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. Sell-side analysts anticipate that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.11%. CDW’s dividend payout ratio is presently 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.