CDW Co. (NASDAQ:CDW) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in CDW Co. (NASDAQ:CDW) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 121,757 shares of the information technology services provider’s stock after purchasing an additional 13,748 shares during the quarter. Franklin Resources Inc.’s holdings in CDW were worth $21,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CDW. Allworth Financial LP raised its stake in CDW by 39.7% in the 4th 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 during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% in the fourth 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 during the last quarter. Canoe Financial LP lifted its stake in shares of 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 buying an additional 112 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in CDW during the fourth quarter worth approximately $69,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $144.49 on Monday. The business has a 50-day moving average of $178.71 and a two-hundred day moving average of $189.07. The firm has a market capitalization of $19.14 billion, a PE ratio of 18.13, a P/E/G ratio of 3.21 and a beta of 0.97. 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 Co. has a 12 month low of $141.80 and a 12 month high of $257.33.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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%. As a group, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.73%. CDW’s payout ratio is 31.37%.

Analysts Set New Price Targets

Several brokerages have weighed in on CDW. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Barclays raised their price target on CDW from $201.00 to $223.00 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 given a buy rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average price target of $235.50.

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.