PNC Financial Services Group Inc. trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 329,889 shares of the information technology services provider's stock after selling 366,844 shares during the quarter. PNC Financial Services Group Inc. owned 0.25% of CDW worth $57,414,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new stake in CDW in the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC increased 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 worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW during the 3rd quarter worth approximately $172,217,000. Proficio Capital Partners LLC raised its position in CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after purchasing an additional 683,446 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in CDW by 7,549.9% in the fourth 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 buying an additional 252,921 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.
CDW Price Performance
Shares of CDW traded down $3.16 on Thursday, reaching $163.50. The stock had a trading volume of 1,087,319 shares, compared to its average volume of 1,393,922. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. 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 firm has a 50-day moving average of $185.84 and a 200 day moving average of $195.95. The firm has a market capitalization of $21.66 billion, a PE ratio of 20.51, a PEG ratio of 3.21 and a beta of 1.01.
CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts' consensus estimates 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 Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 annualized dividend and a yield of 1.53%. CDW's dividend payout ratio (DPR) is presently 31.37%.
CDW announced that its Board of Directors has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CDW. Barclays boosted 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 upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. Finally, UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $242.67.
View Our Latest Report on CDW
About CDW
(
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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