Pictet Asset Management Holding SA Raises Stake in CDW Co. (NASDAQ:CDW)

Pictet Asset Management Holding SA grew its holdings in CDW Co. (NASDAQ:CDW) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 64,473 shares of the information technology services provider’s stock after buying an additional 5,067 shares during the period. Pictet Asset Management Holding SA’s holdings in CDW were worth $11,221,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC raised its position in CDW by 7,029.1% during 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 buying an additional 1,446,025 shares during the last quarter. Norges Bank acquired a new stake in shares of CDW in the fourth quarter valued at about $144,826,000. Madison Investment Advisors LLC purchased a new stake in CDW during the fourth quarter worth about $130,996,000. Proficio Capital Partners LLC grew its position in CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after buying an additional 683,446 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.5 %

Shares of CDW opened at $164.47 on Thursday. CDW Co. has a fifty-two week low of $158.76 and a fifty-two week high of $263.37. The company has a market capitalization of $21.79 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock has a fifty day moving average of $180.64 and a two-hundred day 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 released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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%. As a group, analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. 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 payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase program 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 buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDW. Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. 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 report on Tuesday, January 7th. Finally, Barclays boosted 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 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, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price 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.