Mawer Investment Management Ltd. Acquires 895,959 Shares of CDW Co. (NASDAQ:CDW)


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Mawer Investment Management Ltd. raised its holdings in CDW Co. (NASDAQ:CDW) by 45.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,847,959 shares of the information technology services provider’s stock after buying an additional 895,959 shares during the period. CDW comprises approximately 2.2% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 16th biggest holding. Mawer Investment Management Ltd. owned approximately 1.99% of CDW worth $375,333,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CDW. Meeder Asset Management Inc. increased its stake in shares of CDW by 76.6% during the third quarter. Meeder Asset Management Inc. now owns 242 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 105 shares during the period. Whittier Trust Co. increased its stake in shares of CDW by 195.9% during the fourth quarter. Whittier Trust Co. now owns 219 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 145 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of CDW by 61.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 90 shares during the period. Eudaimonia Partners LLC increased its stake in shares of CDW by 47.0% during the third quarter. Eudaimonia Partners LLC now owns 338 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 108 shares during the period. Finally, South State CORP. bought a new position in shares of CDW during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

CDW has been the topic of a number of analyst reports. Smith Barney Citigroup increased their price target on CDW from $140.00 to $145.00 in a research report on Tuesday, November 3rd. William Blair reissued an “outperform” rating on shares of CDW in a research report on Wednesday, February 10th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and set a $164.00 price target on the stock in a research report on Thursday, February 4th. Credit Suisse Group increased their price target on CDW from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. Finally, Citigroup increased their price target on CDW from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $143.44.

Shares of CDW traded down $2.81 during trading hours on Tuesday, reaching $156.51. The stock had a trading volume of 4,890 shares, compared to its average volume of 871,445. CDW Co. has a 12 month low of $73.39 and a 12 month high of $162.42. The stock has a market capitalization of $22.38 billion, a PE ratio of 31.42, a PEG ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.33 and a current ratio of 1.50. The company’s 50-day moving average is $141.22 and its two-hundred day moving average is $128.55.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, February 9th. The information technology services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.31. CDW had a return on equity of 88.43% and a net margin of 4.08%. The company had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period in the prior year, the company earned $1.57 EPS. CDW’s revenue was up 9.2% compared to the same quarter last year. Equities analysts anticipate that CDW Co. will post 6.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Investors of record on Thursday, February 25th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, February 24th. CDW’s dividend payout ratio is currently 26.58%.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 10th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the information technology services provider to buy up to 5.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

In other news, insider Christina M. Corley sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $133.45, for a total value of $467,075.00. Following the completion of the sale, the insider now directly owns 44,471 shares in the company, valued at approximately $5,934,654.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Frederick J. Kulevich sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total value of $386,950.00. Following the completion of the sale, the insider now owns 15,478 shares of the company’s stock, valued at $2,395,684.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock valued at $1,647,645. Corporate insiders own 1.33% of the company’s stock.

CDW Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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