Graphene Investments SAS Raises Position in CDW Co. (NASDAQ:CDW)

Graphene Investments SAS raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,400 shares of the information technology services provider’s stock after buying an additional 2,600 shares during the quarter. CDW comprises about 2.1% of Graphene Investments SAS’s holdings, making the stock its 17th largest position. Graphene Investments SAS’s holdings in CDW were worth $3,028,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CDW by 13.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,611 shares of the information technology services provider’s stock worth $2,891,000 after buying an additional 1,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in CDW by 0.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,296 shares of the information technology services provider’s stock worth $58,007,000 after acquiring an additional 1,327 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in CDW in the fourth quarter valued at $3,150,000. Mirae Asset Global Investments Co. Ltd. raised its position in CDW by 13.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,057 shares of the information technology services provider’s stock valued at $6,338,000 after purchasing an additional 4,384 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its stake in CDW by 8.1% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 4,149 shares of the information technology services provider’s stock worth $722,000 after purchasing an additional 310 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 3.0 %

NASDAQ:CDW opened at $199.86 on Friday. The firm has a market capitalization of $26.63 billion, a P/E ratio of 24.43, a P/E/G ratio of 5.39 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a fifty day moving average of $183.54 and a 200 day moving average of $202.63.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.33% and a return on equity of 58.31%. On average, research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.25%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDW. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW 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.