Mirae Asset Global Investments Co. Ltd. Purchases 4,384 Shares of CDW Co. (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CDW Co. (NASDAQ:CDW) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,057 shares of the information technology services provider’s stock after purchasing an additional 4,384 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CDW were worth $6,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Alliance Wealth Advisors LLC UT raised its stake in shares of CDW by 8.1% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,149 shares of the information technology services provider’s stock valued at $722,000 after buying an additional 310 shares in the last quarter. Resonant Capital Advisors LLC raised its position in CDW by 1.7% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider’s stock worth $735,000 after purchasing an additional 69 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in CDW by 838.6% during the fourth quarter. DAVENPORT & Co LLC now owns 11,901 shares of the information technology services provider’s stock worth $2,064,000 after purchasing an additional 10,633 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in CDW by 4.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,996 shares of the information technology services provider’s stock worth $695,000 after purchasing an additional 169 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in CDW by 28.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,169 shares of the information technology services provider’s stock valued at $377,000 after purchasing an additional 475 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Down 3.9 %

NASDAQ CDW opened at $192.02 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a market capitalization of $25.59 billion, a PE ratio of 23.47, a P/E/G ratio of 5.39 and a beta of 1.01. The stock has a 50-day simple moving average of $183.54 and a 200 day simple moving average of $202.63.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 net margin of 5.33% and a return on equity of 58.31%. Research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is currently 30.56%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.