Sumitomo Mitsui Trust Holdings Inc. Purchases 26,529 Shares of CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui Trust Holdings Inc. increased its position in CDW Co. (NASDAQ:CDW) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 348,384 shares of the information technology services provider’s stock after buying an additional 26,529 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CDW were worth $79,195,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CDW. Vanguard Group Inc. lifted its stake in CDW by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock worth $2,812,692,000 after purchasing an additional 196,216 shares in the last quarter. State Street Corp lifted its stake in CDW by 3.0% in the 1st quarter. State Street Corp now owns 5,281,252 shares of the information technology services provider’s stock worth $1,029,263,000 after purchasing an additional 156,066 shares in the last quarter. Geode Capital Management LLC lifted its stake in CDW by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider’s stock worth $560,247,000 after purchasing an additional 63,457 shares in the last quarter. Morgan Stanley lifted its stake in CDW by 130.7% in the 4th quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after purchasing an additional 1,383,869 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in CDW by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after purchasing an additional 20,345 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $236.78 on Thursday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The company has a market capitalization of $31.82 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.74 and a beta of 1.09. The company’s 50-day simple moving average is $247.57 and its two-hundred day simple moving average is $226.99. CDW Co. has a one year low of $160.66 and a one year high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 EPS. As a group, equities analysts anticipate that CDW Co. will post 9.88 EPS for the current year.

CDW declared that its board has initiated a share buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. CDW’s dividend payout ratio is presently 30.62%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CDW shares. Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. 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. Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.90.

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.