Mutual of America Capital Management LLC Has $4.08 Million Stock Position in CDW Co. (NASDAQ:CDW)

Mutual of America Capital Management LLC lessened its position in shares of CDW Co. (NASDAQ:CDW) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,929 shares of the information technology services provider’s stock after selling 833 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CDW were worth $4,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. Cambridge Investment Research Advisors Inc. boosted its position in shares of CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock valued at $1,165,000 after purchasing an additional 547 shares in the last quarter. Acadian Asset Management LLC acquired a new position in CDW in the first quarter valued at approximately $103,000. Panagora Asset Management Inc. boosted its holdings in shares of CDW by 160.4% during the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after buying an additional 2,861 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of CDW by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock worth $3,671,000 after buying an additional 65 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of CDW by 1.5% during the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after buying an additional 515 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $240.01 on Wednesday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm’s 50-day simple moving average is $247.59 and its 200 day simple moving average is $226.92. The stock has a market cap of $32.25 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.75 and a beta of 1.09. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the company earned $2.40 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts anticipate that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW announced that its board has approved a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.03%. CDW’s payout ratio is 30.62%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CDW shares. JPMorgan Chase & Co. boosted their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup upped their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Barclays upped their price target on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

About CDW

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.