Commerce Bank Decreases Holdings in CDW Co. (NASDAQ:CDW)

Commerce Bank cut its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,604 shares of the information technology services provider's stock after selling 7,113 shares during the period. Commerce Bank's holdings in CDW were worth $6,197,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC boosted its stake in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP raised 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 worth $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Invesco Ltd. lifted its position in shares of CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after buying an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in 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 valued at $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock traded up $2.83 during trading on Wednesday, hitting $154.86. The company had a trading volume of 1,106,398 shares, compared to its average volume of 1,172,844. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12. The stock's 50-day moving average is $165.45 and its two-hundred day moving average is $182.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.13% and a return on equity of 55.42%. As a group, analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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 given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.61%. CDW's dividend payout ratio (DPR) is 31.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CDW shares. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group reduced their price target 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 upped their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup cut their price target on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW has a consensus rating of "Moderate Buy" and an average target price of $217.38.

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.