CDW Co. (NASDAQ:CDW) Position Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in CDW Co. (NASDAQ:CDW - Free Report) by 65.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 916,519 shares of the information technology services provider's stock after selling 1,749,492 shares during the period. Alliancebernstein L.P. owned approximately 0.69% of CDW worth $159,511,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CDW. Oddo BHF Asset Management Sas acquired a new position in CDW during the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. lifted 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. Franklin Resources Inc. lifted its holdings in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in CDW during the 4th quarter worth $130,996,000. Finally, Graphene Investments SAS increased its holdings in CDW by 17.6% in the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Down 4.7 %

CDW traded down $7.08 during trading on Friday, hitting $144.49. The company had a trading volume of 4,384,228 shares, compared to its average volume of 1,119,728. The company has a market cap of $19.14 billion, a PE ratio of 18.13, a P/E/G ratio of 3.21 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 1.24. CDW Co. has a 1-year low of $141.80 and a 1-year high of $257.33. The business has a 50-day moving average of $178.71 and a 200-day moving average of $189.30.

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CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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%. As a group, analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has approved a share repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared 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 dividend yield of 1.73%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CDW shares. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.50.

CDW 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.