CDW Co. (NASDAQ:CDW) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of CDW Co. (NASDAQ:CDW) by 27.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 742,638 shares of the information technology services provider’s stock after acquiring an additional 160,089 shares during the period. First Trust Advisors LP’s holdings in CDW were worth $129,249,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Vanguard Group Inc. boosted its position in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after purchasing an additional 99,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP grew its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after acquiring an additional 574,444 shares during the period. Invesco Ltd. increased its stake in shares of CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock valued at $422,351,000 after purchasing an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after purchasing an additional 575,333 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ:CDW opened at $151.47 on Friday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The company has a market cap of $19.96 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company’s 50-day moving average price is $167.67 and its 200-day moving average price is $183.44.

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citigroup decreased their price objective on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $217.38.

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.