Boston Partners Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Boston Partners decreased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 62.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 247,341 shares of the information technology services provider's stock after selling 408,762 shares during the quarter. Boston Partners owned approximately 0.19% of CDW worth $43,084,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its holdings in 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 in the last quarter. Canoe Financial LP boosted its stake in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $69,000. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDW. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley upped their price objective 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 increased their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $235.50.

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CDW Trading Up 2.9 %

CDW traded up $4.74 during trading on Monday, reaching $170.31. The company had a trading volume of 1,011,289 shares, compared to its average volume of 1,040,202. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50 day simple moving average of $184.40 and a 200-day simple moving average of $193.04. The stock has a market cap of $22.56 billion, a P/E ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results 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 net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

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

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

CDW Company 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.