Nomura Asset Management Co. Ltd. Acquires 161,568 Shares of CDW Co. (NASDAQ:CDW)

Nomura Asset Management Co. Ltd. grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 64.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,071 shares of the information technology services provider’s stock after purchasing an additional 161,568 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CDW were worth $71,717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 2.1 %

Shares of CDW stock opened at $163.84 on Friday. The company’s 50-day moving average price is $182.94 and its 200-day moving average price is $192.05. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $161.19 and a 12-month high of $263.37. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted 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 net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Morgan Stanley upped their price objective 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. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CDW 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.