CDW Co. (NASDAQ:CDW) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in CDW Co. (NASDAQ:CDW) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,441 shares of the information technology services provider’s stock after buying an additional 36,648 shares during the period. Victory Capital Management Inc.’s holdings in CDW were worth $31,698,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Northern Trust Corp boosted its holdings in CDW by 1.6% in the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock valued at $268,568,000 after purchasing an additional 20,345 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of CDW by 3.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after purchasing an additional 41,472 shares in the last quarter. Barclays PLC boosted its stake in shares of CDW by 2.1% during the 3rd quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock valued at $205,014,000 after buying an additional 20,934 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of CDW by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock valued at $167,975,000 after buying an additional 20,152 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of CDW by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock worth $186,878,000 after buying an additional 3,082 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 0.5 %

Shares of NASDAQ CDW opened at $220.68 on Wednesday. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. The stock’s 50 day simple moving average is $244.71 and its 200 day simple moving average is $229.74. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a 12-month low of $164.62 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.16% and a return on equity of 67.56%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts expect that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, May 23rd. CDW’s payout ratio is 30.96%.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus reduced their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, 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 report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.