MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 1,156 Shares of CDW Co. (NASDAQ:CDW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CDW Co. (NASDAQ:CDW) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,672 shares of the information technology services provider’s stock after buying an additional 1,156 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CDW were worth $18,739,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP lifted its position in CDW by 39.7% during the fourth 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 during the period. OFI Invest Asset Management bought a new position in shares of CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Optiver Holding B.V. boosted its stake in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 119 shares in the last quarter. Finally, Canoe Financial LP boosted its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDW. Citigroup lifted their target price on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. UBS Group lowered their price objective on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Barclays cut their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, 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 research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four 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 a consensus target price of $216.38.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company’s stock.

CDW Trading Down 0.7%

CDW stock opened at $189.36 on Thursday. CDW Co. has a one year low of $137.31 and a one year high of $241.26. The business’s fifty day moving average is $162.34 and its 200 day moving average is $177.11. The stock has a market capitalization of $24.94 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 1.32%. CDW’s dividend payout ratio is presently 30.98%.

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

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.