Russell Investments Group Ltd. Increases Position in CDW Co. (NASDAQ:CDW)

Russell Investments Group Ltd. increased its stake in shares of CDW Co. (NASDAQ:CDW) by 35.9% in the fourth quarter, HoldingsChannel reports. The firm owned 60,057 shares of the information technology services provider’s stock after buying an additional 15,856 shares during the period. Russell Investments Group Ltd.’s holdings in CDW were worth $13,678,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Delta Investment Management LLC grew its holdings in CDW by 50.0% in the fourth quarter. Delta Investment Management LLC now owns 3,495 shares of the information technology services provider’s stock worth $795,000 after purchasing an additional 1,165 shares during the last quarter. Community Bank N.A. acquired a new position in CDW during the 4th quarter valued at about $202,000. Tokio Marine Asset Management Co. Ltd. raised its stake in CDW by 7.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,399 shares of the information technology services provider’s stock valued at $773,000 after buying an additional 244 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in CDW by 156.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,928 shares of the information technology services provider’s stock worth $438,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in shares of CDW by 115.2% during the fourth quarter. Wolverine Asset Management LLC now owns 1,988 shares of the information technology services provider’s stock worth $452,000 after acquiring an additional 15,100 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $219.56 on Friday. The stock has a market cap of $29.51 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37. The business has a 50-day simple moving average of $245.67 and a 200-day simple moving average of $229.30. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. On average, equities analysts expect that CDW Co. will post 9.89 EPS for the current year.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW’s payout ratio is 30.96%.

Analyst Ratings Changes

CDW has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI lifted their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays cut their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Citigroup cut their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.50.

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.