Headlands Technologies LLC Takes Position in CDW Co. (NASDAQ:CDW)

Headlands Technologies LLC acquired a new position in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,150 shares of the information technology services provider’s stock, valued at approximately $5,073,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas purchased a new position in shares of CDW in the 3rd quarter worth about $1,629,000. Assenagon Asset Management S.A. grew its holdings in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. lifted its stake in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in CDW during the fourth quarter valued at about $130,996,000. Finally, Graphene Investments SAS grew its stake in shares of CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after buying an additional 2,600 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CDW shares. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price target 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 boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Trading Down 0.8 %

NASDAQ:CDW opened at $160.26 on Tuesday. The company has a 50-day moving average price of $181.83 and a 200-day moving average price of $190.93. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12 month low of $158.76 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.56%. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.