Mitsubishi UFJ Trust & Banking Corp Purchases 79 Shares of CDW Co. (NASDAQ:CDW)

Mitsubishi UFJ Trust & Banking Corp increased its position in CDW Co. (NASDAQ:CDW) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 85,433 shares of the information technology services provider’s stock after acquiring an additional 79 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in CDW were worth $14,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CDW. Vanguard Group Inc. boosted its position in CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after purchasing an additional 99,947 shares during the last quarter. State Street Corp boosted its holdings in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Geode Capital Management LLC grew its position in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Janus Henderson Group PLC increased its holdings in CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC raised its position in CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CDW. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Down 1.4 %

NASDAQ CDW opened at $161.51 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12 month low of $160.96 and a 12 month high of $263.37. The stock’s 50 day moving average is $182.40 and its 200 day moving average is $191.68. The stock has a market cap of $21.40 billion, a PE ratio of 20.26, a P/E/G ratio of 3.21 and a beta of 1.01.

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

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.55%. CDW’s payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a share repurchase plan 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 repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.