Mirae Asset Global Investments Co. Ltd. Has $9.23 Million Holdings in CDW Co. (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,695 shares of the information technology services provider’s stock after buying an additional 2,289 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CDW were worth $9,232,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in CDW by 76.3% during the 4th quarter. Allworth Financial LP now owns 141 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 61 shares in the last quarter. RFP Financial Group LLC bought a new position in shares of CDW in the 4th quarter valued at about $25,000. Eagle Bay Advisors LLC grew its holdings in shares of CDW by 1,333.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 172 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 160 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of CDW by 31.2% in the 4th quarter. Trust Co. of Vermont now owns 286 shares of the information technology services provider’s stock valued at $51,000 after acquiring an additional 68 shares in the last quarter. Finally, Mendota Financial Group LLC bought a new position in shares of CDW in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 92.78% of the company’s stock.

CDW Stock Down 1.2 %

NASDAQ CDW opened at $172.59 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 3.66. CDW Co. has a 1-year low of $147.91 and a 1-year high of $215.00. The company has a 50 day moving average of $179.70 and a 200-day moving average of $187.16. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.46 and a beta of 1.11.

CDW announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 8th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th will be given a $0.59 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. CDW’s payout ratio is 29.57%.

Insider Activity

In other news, insider Christine A. Leahy acquired 3,050 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average cost of $163.62 per share, for a total transaction of $499,041.00. Following the completion of the transaction, the insider now directly owns 68,622 shares in the company, valued at $11,227,931.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on CDW from $228.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Stifel Nicolaus reduced their price target on CDW from $215.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Credit Suisse Group reduced their price target on CDW from $195.00 to $190.00 in a report on Thursday, May 4th. Raymond James lifted their price target on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Finally, JPMorgan Chase & Co. reduced their price target on CDW from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.63.

CDW Company Profile

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CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.