Asset Management One Co. Ltd. Lowers Stock Position in CDW Co. (NASDAQ:CDW)

Asset Management One Co. Ltd. decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,456 shares of the information technology services provider's stock after selling 14,996 shares during the period. Asset Management One Co. Ltd.'s holdings in CDW were worth $11,146,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CDW. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW in the third quarter valued at about $1,629,000. Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% in the fourth 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 purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Graphene Investments SAS raised its holdings in shares of CDW by 17.6% in the fourth 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 during the last quarter. Finally, Czech National Bank raised its holdings in shares of CDW by 6.2% in the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock valued at $5,029,000 after purchasing an additional 1,685 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded down $1.70 on Thursday, reaching $192.80. 915,227 shares of the company's stock were exchanged, compared to its average volume of 1,388,392. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The stock has a fifty day simple moving average of $185.64 and a 200-day simple moving average of $200.28.

CDW (NASDAQ:CDW - Get Free Report) last issued 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%. As a group, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has approved a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. CDW's dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

CDW has been the subject of several analyst reports. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. UBS Group reduced their price target on shares of 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 increased 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 increased their price target on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.67.

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.