CDW Co. (NASDAQ:CDW) Stock Position Lowered by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lessened its position in CDW Co. (NASDAQ:CDW - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,660 shares of the information technology services provider's stock after selling 3,478 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in CDW were worth $637,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new position in shares of CDW during the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. increased its stake in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Graphene Investments SAS increased its stake in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after purchasing an additional 1,685 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CDW shares. 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. UBS Group lowered their target price 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. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. Finally, Morgan Stanley raised their target price 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and an average target price of $242.67.

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CDW Price Performance

Shares of CDW opened at $166.05 on Wednesday. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 1-year low of $164.96 and a 1-year high of $263.37. The company's fifty day simple moving average is $186.14 and its 200 day simple moving average is $196.61. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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, 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%. On average, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.51%. CDW's dividend payout ratio is 31.37%.

CDW declared that its board has initiated a stock buyback plan 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 buy up to 2.7% of its shares through open market purchases. Shares repurchase plans 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.

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