UniSuper Management Pty Ltd Buys 3,772 Shares of CDW Co. (NASDAQ:CDW)

UniSuper Management Pty Ltd boosted its position in shares of CDW Co. (NASDAQ:CDW) by 13.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,349 shares of the information technology services provider’s stock after acquiring an additional 3,772 shares during the quarter. UniSuper Management Pty Ltd’s holdings in CDW were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in CDW during the third quarter valued at about $90,000. BNP Paribas Financial Markets raised its stake in CDW by 6.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 241,781 shares of the information technology services provider’s stock valued at $54,715,000 after purchasing an additional 14,817 shares during the period. Townsquare Capital LLC lifted its holdings in CDW by 9.9% in the 3rd quarter. Townsquare Capital LLC now owns 17,650 shares of the information technology services provider’s stock worth $3,994,000 after purchasing an additional 1,589 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in CDW by 667.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,393 shares of the information technology services provider’s stock worth $21,587,000 after purchasing an additional 82,970 shares during the period. Finally, Fiduciary Trust Co grew its holdings in CDW by 109.7% during the 3rd quarter. Fiduciary Trust Co now owns 3,874 shares of the information technology services provider’s stock valued at $877,000 after buying an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group dropped 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. Finally, Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $161.51 on Friday. The firm has a fifty day simple moving average of $182.40 and a two-hundred day simple moving average of $191.68. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $21.40 billion, a P/E ratio of 20.26, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $160.96 and a 52 week high of $263.37.

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

CDW Dividend Announcement

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

CDW declared that its board 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.