Jennison Associates LLC Has $24.68 Million Holdings in CDW Co. (NASDAQ:CDW)

Jennison Associates LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 2,172.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,576 shares of the information technology services provider’s stock after buying an additional 103,798 shares during the quarter. Jennison Associates LLC owned 0.08% of CDW worth $24,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in shares of CDW by 1.6% during the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after purchasing an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of CDW by 3.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after purchasing an additional 41,472 shares during the period. Barclays PLC raised its position in shares of CDW by 2.1% during the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after purchasing an additional 20,934 shares during the period. American Century Companies Inc. raised its position in shares of CDW by 2.5% during the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after purchasing an additional 20,152 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Up 0.1 %

Shares of NASDAQ:CDW opened at $240.69 on Thursday. The company has a market capitalization of $32.34 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The business has a fifty day moving average price of $247.19 and a two-hundred day moving average price of $228.12. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. Analysts forecast that CDW Co. will post 9.89 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s dividend payout ratio (DPR) is presently 30.62%.

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

Analyst Upgrades and Downgrades

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