abrdn plc Has $8.28 Million Position in CDW Co. (NASDAQ:CDW)

abrdn plc decreased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,659 shares of the information technology services provider's stock after selling 7,066 shares during the period. abrdn plc's holdings in CDW were worth $8,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA bought a new position in shares of CDW in the third quarter valued at $416,111,000. Janus Henderson Group PLC raised its stake 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 valued at $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new position in shares of CDW during the 3rd quarter valued at $172,217,000. Assenagon Asset Management S.A. grew its holdings in shares of CDW by 7,549.9% during the 4th 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 acquiring an additional 252,921 shares in the last quarter. Finally, Unigestion Holding SA grew its holdings in shares of CDW by 917.4% during the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider's stock valued at $39,021,000 after acquiring an additional 155,517 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley boosted their price target 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. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Finally, UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Stock Down 1.5 %

NASDAQ:CDW traded down $2.80 during trading hours on Wednesday, reaching $188.94. The company's stock had a trading volume of 884,248 shares, compared to its average volume of 1,423,070. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The business's 50-day moving average is $184.54 and its 200-day moving average is $201.35.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts predict that CDW Co. will post 9.35 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a share buyback plan 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

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.