Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of CDW Co. (NASDAQ:CDW) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,399 shares of the information technology services provider’s stock after purchasing an additional 244 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CDW were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in CDW in the third quarter valued at $25,000. VisionPoint Advisory Group LLC purchased a new stake in CDW in the third quarter valued at $28,000. TFC Financial Management Inc. lifted its position in CDW by 61.1% in the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Larson Financial Group LLC purchased a new stake in CDW in the fourth quarter valued at $30,000. Finally, Orion Capital Management LLC purchased a new stake in CDW in the third quarter valued at $35,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 0.5 %

Shares of CDW stock opened at $242.26 on Friday. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The company’s 50-day simple moving average is $247.23 and its 200-day simple moving average is $228.31. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CDW Co. will post 9.89 earnings per share for the current year.

CDW declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.02%. CDW’s payout ratio is currently 30.62%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CDW shares. Citigroup boosted their price target on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Evercore ISI lifted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Barclays lifted their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.