Intact Investment Management Inc. Grows Stock Position in CDW Co. (NASDAQ:CDW)

Intact Investment Management Inc. grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 129.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the information technology services provider’s stock after purchasing an additional 3,100 shares during the quarter. Intact Investment Management Inc.’s holdings in CDW were worth $957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDW. State Street Corp increased its holdings in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its holdings in CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC increased its holdings in 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 acquiring an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC increased its holdings in CDW by 0.3% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price target 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, Barclays upped their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Up 2.1 %

NASDAQ CDW opened at $167.00 on Friday. 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 $22.13 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $162.84 and a one year high of $263.37. The stock has a 50 day moving average price of $185.71 and a 200-day moving average price of $195.73.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. CDW’s dividend payout ratio is presently 31.37%.

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

CDW Company 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.