Keybank National Association OH Trims Stake in CDW Co. (NASDAQ:CDW)

Keybank National Association OH cut its stake in CDW Co. (NASDAQ:CDW - Free Report) by 36.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,790 shares of the information technology services provider's stock after selling 2,733 shares during the quarter. Keybank National Association OH's holdings in CDW were worth $834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. State Street Corp raised its stake in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after buying an additional 64,702 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after acquiring an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of CDW in the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC lifted its stake in shares of CDW by 7,029.1% in the 3rd 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. Finally, Barclays PLC lifted its stake in shares of CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock valued at $261,779,000 after purchasing an additional 3,424 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on CDW. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. 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. Morgan Stanley boosted their price objective 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. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $242.67.

CDW Stock Up 0.5 %

Shares of NASDAQ:CDW traded up $0.82 during trading on Wednesday, reaching $166.87. 1,017,900 shares of the stock traded hands, compared to its average volume of 1,022,818. The stock has a market cap of $22.11 billion, a P/E ratio of 21.01, 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 quick ratio of 1.24 and a current ratio of 1.35. The stock has a 50-day moving average of $185.98 and a two-hundred day moving average of $196.16. CDW Co. has a 52-week low of $164.82 and a 52-week high of $263.37.

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. CDW's dividend payout ratio is presently 31.37%.

CDW announced that its Board of Directors has approved a stock buyback program 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 reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

About CDW

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.