CDW Co. (NASDAQ:CDW) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,695 shares of the information technology services provider’s stock after buying an additional 2,289 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CDW were worth $9,232,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CDW by 0.8% during the third quarter. Vanguard Group Inc. now owns 16,072,467 shares of the information technology services provider’s stock worth $2,508,590,000 after buying an additional 120,738 shares in the last quarter. State Street Corp boosted its holdings in CDW by 0.5% during the third quarter. State Street Corp now owns 5,128,543 shares of the information technology services provider’s stock worth $800,463,000 after buying an additional 26,442 shares in the last quarter. Fiduciary Management Inc. WI boosted its stake in CDW by 12.7% in the 3rd quarter. Fiduciary Management Inc. WI now owns 1,675,953 shares of the information technology services provider’s stock worth $261,583,000 after purchasing an additional 188,689 shares during the period. Invesco Ltd. boosted its stake in CDW by 6.3% in the 1st quarter. Invesco Ltd. now owns 1,158,069 shares of the information technology services provider’s stock worth $207,167,000 after purchasing an additional 68,237 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in CDW by 2.9% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,099,614 shares of the information technology services provider’s stock worth $171,628,000 after purchasing an additional 31,226 shares during the period. 92.78% of the stock is currently owned by institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $172.59 on Monday. CDW Co. has a fifty-two week low of $147.91 and a fifty-two week high of $215.00. The business has a 50-day moving average of $179.70 and a two-hundred day moving average of $187.16. The stock has a market capitalization of $23.26 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.31 and a quick ratio of 1.15.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Thursday, May 25th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. CDW’s dividend payout ratio is currently 29.57%.

CDW declared that its board has approved a stock repurchase plan on Wednesday, February 8th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Raymond James raised their price objective on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Stifel Nicolaus decreased their price objective on shares of CDW from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. StockNews.com initiated coverage on shares of CDW in a research note on Thursday. They issued a “hold” rating for the company. Citigroup raised their price objective on shares of CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CDW from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.63.

Insiders Place Their Bets

In related news, insider Christine A. Leahy purchased 3,050 shares of CDW stock in a transaction on Thursday, May 4th. The stock was bought at an average price of $163.62 per share, with a total value of $499,041.00. Following the completion of the transaction, the insider now directly owns 68,622 shares of the company’s stock, valued at $11,227,931.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

About CDW

(Get Rating)

CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.