Mawer Investment Management Ltd. Sells 34,564 Shares of CDW Co. (NASDAQ:CDW)

Mawer Investment Management Ltd. decreased its holdings in CDW Co. (NASDAQ:CDW) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,041,920 shares of the information technology services provider’s stock after selling 34,564 shares during the period. CDW makes up 2.4% of Mawer Investment Management Ltd.’s portfolio, making the stock its 13th largest holding. Mawer Investment Management Ltd.’s holdings in CDW were worth $529,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 99,947 shares during the period. State Street Corp grew its stake in shares of CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC increased its position in shares of CDW by 0.9% during the 3rd 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 purchasing an additional 31,858 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of CDW by 3.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock worth $255,434,000 after buying an additional 50,805 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.4 %

Shares of CDW stock opened at $161.51 on Friday. CDW Co. has a fifty-two week low of $160.96 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The company has a market capitalization of $21.40 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a fifty day moving average of $182.40 and a 200 day moving average of $191.51.

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, 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, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its board has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

CDW has been the subject of a number of research reports. Morgan Stanley upped 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, February 6th. Barclays raised their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

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.