Mizuho Securities USA LLC Increases Stake in CDW Co. (NASDAQ:CDW)

Mizuho Securities USA LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 45.8% during the 4th quarter, HoldingsChannel reports. The firm owned 12,630 shares of the information technology services provider’s stock after purchasing an additional 3,968 shares during the quarter. Mizuho Securities USA LLC’s holdings in CDW were worth $2,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Raymond James Trust N.A. grew its stake in shares of CDW by 4.0% in the 3rd quarter. Raymond James Trust N.A. now owns 2,197 shares of the information technology services provider’s stock valued at $497,000 after buying an additional 85 shares during the period. Cerity Partners LLC raised its position in CDW by 18.9% in the third quarter. Cerity Partners LLC now owns 39,301 shares of the information technology services provider’s stock valued at $8,894,000 after purchasing an additional 6,235 shares during the period. Swedbank AB lifted its stake in shares of CDW by 1.8% in the 3rd quarter. Swedbank AB now owns 52,123 shares of the information technology services provider’s stock valued at $11,795,000 after purchasing an additional 928 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of CDW by 5.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 3,984 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 199 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in CDW by 20.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 26,999 shares of the information technology services provider’s stock valued at $6,110,000 after buying an additional 4,620 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $170.31 on Tuesday. The company’s 50 day moving average is $184.19 and its two-hundred day moving average is $192.73. The firm has a market cap of $22.56 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. CDW’s payout ratio is 31.37%.

Analyst Ratings Changes

Several research analysts have weighed in on CDW shares. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.