APG Asset Management US Inc. Cuts Stake in CDW Co. (NASDAQ:CDW)

APG Asset Management US Inc. lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,205 shares of the information technology services provider's stock after selling 3,767 shares during the period. APG Asset Management US Inc.'s holdings in CDW were worth $732,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after buying an additional 99,947 shares in the last quarter. Geode Capital Management LLC raised its stake in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after purchasing an additional 54,341 shares in the last quarter. Wellington Management Group LLP lifted its position in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. increased its holdings in shares of CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after buying an additional 575,333 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

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CDW Trading Down 0.5 %

CDW stock traded down $0.80 on Tuesday, reaching $150.94. The company's stock had a trading volume of 249,301 shares, compared to its average volume of 1,159,221. The firm has a market cap of $20.00 billion, a PE ratio of 18.94, a PEG ratio of 3.21 and a beta of 0.97. The business has a fifty day simple moving average of $171.12 and a two-hundred day simple moving average of $185.15. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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

CDW declared that its Board of Directors has initiated 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 stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.66%. CDW's dividend payout ratio is currently 31.37%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays boosted their target price on 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 issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.88.

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.