DAVENPORT & Co LLC Acquires 10,633 Shares of CDW Co. (NASDAQ:CDW)

DAVENPORT & Co LLC increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 838.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,901 shares of the information technology services provider's stock after purchasing an additional 10,633 shares during the quarter. DAVENPORT & Co LLC's holdings in CDW were worth $2,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its position in shares of CDW by 4.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,996 shares of the information technology services provider's stock worth $695,000 after buying an additional 169 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of CDW by 28.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,169 shares of the information technology services provider's stock worth $377,000 after buying an additional 475 shares during the period. Waldron Private Wealth LLC grew its position in shares of CDW by 103.0% during the 4th quarter. Waldron Private Wealth LLC now owns 3,366 shares of the information technology services provider's stock worth $586,000 after buying an additional 1,708 shares during the period. Mediolanum International Funds Ltd grew its position in shares of CDW by 53.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 31,336 shares of the information technology services provider's stock worth $5,419,000 after buying an additional 10,902 shares during the period. Finally, Milestone Asset Management LLC grew its position in shares of CDW by 77.0% in the 4th quarter. Milestone Asset Management LLC now owns 9,555 shares of the information technology services provider's stock valued at $1,663,000 after purchasing an additional 4,156 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CDW shares. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley boosted 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. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $242.67.

CDW Stock Down 3.9 %

NASDAQ CDW traded down $7.84 during trading on Friday, hitting $192.02. The stock had a trading volume of 1,470,637 shares, compared to its average volume of 1,442,600. The company has a market capitalization of $25.59 billion, a PE ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. The company's 50-day moving average price is $183.86 and its two-hundred day moving average price is $202.15. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that CDW Co. will post 9.35 EPS for the current year.

CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

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.