Bahl & Gaynor Inc. decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,728 shares of the information technology services provider's stock after selling 253,464 shares during the quarter. Bahl & Gaynor Inc. owned about 0.21% of CDW worth $48,510,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Allworth Financial LP raised its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CDW in the 3rd quarter worth approximately $43,000. Canoe Financial LP increased its position in shares of CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 112 shares during the last quarter. Finally, Covestor Ltd raised its holdings in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock valued at $55,000 after buying an additional 109 shares during the period. Institutional investors own 93.15% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Barclays upped 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. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and an average price target of $242.67.
View Our Latest Stock Analysis on CDW
CDW Stock Up 0.7 %
Shares of CDW stock traded up $1.11 during mid-day trading on Friday, hitting $168.37. The stock had a trading volume of 2,348,878 shares, compared to its average volume of 1,385,177. The firm has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a price-to-earnings-growth 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 12-month low of $164.98 and a 12-month high of $263.37. The firm's 50-day moving average is $186.37 and its two-hundred day moving average is $197.71.
CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data 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%. On average, analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.
CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
About CDW
(
Free Report)
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.
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