Boston Financial Mangement LLC Lowers Position in CDW Co. (NASDAQ:CDW)

Boston Financial Mangement LLC lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 77.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,663 shares of the information technology services provider's stock after selling 143,130 shares during the period. Boston Financial Mangement LLC's holdings in CDW were worth $7,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW in the third quarter valued at about $416,111,000. Janus Henderson Group PLC lifted its position in CDW by 7,029.1% in the third 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 stake in CDW in the 3rd quarter valued at approximately $172,217,000. Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in 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 purchasing an additional 252,921 shares in the last quarter. Finally, Unigestion Holding SA increased its position in CDW by 917.4% during the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider's stock worth $39,021,000 after purchasing an additional 155,517 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW traded down $6.30 during mid-day trading on Friday, hitting $186.50. 995,159 shares of the company's stock traded hands, compared to its average volume of 1,376,828. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The company has a market cap of $24.85 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm's 50 day simple moving average is $186.14 and its 200 day simple moving average is $200.09.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors 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 1.34%. The ex-dividend date is Tuesday, February 25th. CDW's dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target for the company. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. UBS Group reduced 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. Finally, Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.