Legal & General Group Plc reduced its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 965,431 shares of the information technology services provider's stock after selling 242,117 shares during the period. Legal & General Group Plc owned approximately 0.72% of CDW worth $168,024,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CDW. Norges Bank acquired a new stake in shares of CDW during the 4th quarter valued at about $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW in the 4th quarter valued at approximately $130,996,000. Proficio Capital Partners LLC raised its holdings in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after buying an additional 683,446 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares during the period. Finally, Wellington Management Group LLP grew its position in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.
CDW Trading Down 0.3 %
CDW stock traded down $0.53 during mid-day trading on Tuesday, hitting $151.21. The stock had a trading volume of 239,621 shares, compared to its average volume of 1,511,388. The stock has a 50-day simple moving average of $171.12 and a two-hundred day simple moving average of $185.15. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $20.03 billion, a PE ratio of 18.97, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12.
CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results 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 net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current year.
CDW Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.65%. CDW's dividend payout ratio is presently 31.37%.
CDW declared that its board has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CDW shares. Citigroup lowered their target price on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus target price of $224.88.
Check Out Our Latest Stock Analysis on CDW
CDW Profile
(
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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