Massachusetts Financial Services Co. MA Buys 575,333 Shares of CDW Co. (NASDAQ:CDW)

Massachusetts Financial Services Co. MA grew its position in shares of CDW Co. (NASDAQ:CDW) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,414,093 shares of the information technology services provider’s stock after purchasing an additional 575,333 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.81% of CDW worth $420,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of CDW during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP increased its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW during the 4th quarter valued at $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $164.47 on Thursday. The company has a market capitalization of $21.79 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 52-week low of $158.76 and a 52-week high of $263.37. The business has a 50-day simple moving average of $180.64 and a two-hundred day simple moving average of $190.34. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last announced its quarterly 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%. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its board has approved a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.52%. CDW’s dividend payout ratio is currently 31.37%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of 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 boosted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.