OFI Invest Asset Management Purchases Shares of 189 CDW Co. (NASDAQ:CDW)

OFI Invest Asset Management purchased a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 189 shares of the information technology services provider’s stock, valued at approximately $32,000.

Several other institutional investors also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA acquired a new position in CDW in the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC raised its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new position in CDW in the 3rd quarter valued at $172,217,000. Proficio Capital Partners LLC raised its holdings in CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after acquiring an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after acquiring an additional 252,921 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Down 2.0 %

Shares of CDW stock opened at $166.05 on Wednesday. The company has a fifty day moving average price of $186.14 and a 200 day moving average price of $196.61. 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 Co. has a twelve month low of $164.96 and a twelve month high of $263.37. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.51%. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has authorized a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research reports. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

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.