Erste Asset Management GmbH Reduces Holdings in CDW Co. (NASDAQ:CDW)

Erste Asset Management GmbH cut its position in CDW Co. (NASDAQ:CDW - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,785 shares of the information technology services provider's stock after selling 30,400 shares during the period. Erste Asset Management GmbH's holdings in CDW were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CDW. Assetmark Inc. grew its position in shares of CDW by 37.3% in the 3rd quarter. Assetmark Inc. now owns 975 shares of the information technology services provider's stock valued at $221,000 after buying an additional 265 shares during the last quarter. Covestor Ltd grew its position in shares of CDW by 80.1% in 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 last quarter. Apollon Wealth Management LLC grew its position in shares of CDW by 36.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider's stock valued at $665,000 after buying an additional 779 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in CDW by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider's stock worth $75,125,000 after purchasing an additional 6,161 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in CDW by 21.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 4,113 shares of the information technology services provider's stock worth $931,000 after purchasing an additional 735 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

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CDW Stock Performance

Shares of CDW stock traded up $2.08 during mid-day trading on Wednesday, hitting $172.84. The stock had a trading volume of 1,192,480 shares, compared to its average volume of 1,029,451. CDW Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37. The firm has a market cap of $22.90 billion, a PE ratio of 21.69, a PEG 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. The company's 50-day simple moving average is $185.18 and its 200-day simple moving average is $194.11.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 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%. Sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley increased 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. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus 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.