Dana Investment Advisors Inc. Sells 1,584 Shares of CDW Co. (NASDAQ:CDW)

Dana Investment Advisors Inc. lessened its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 55.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,295 shares of the information technology services provider's stock after selling 1,584 shares during the period. Dana Investment Advisors Inc.'s holdings in CDW were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the 3rd quarter worth $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% during 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 in the last quarter. Holocene Advisors LP bought a new stake in CDW in the third quarter worth $172,217,000. Proficio Capital Partners LLC increased 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 worth $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in CDW by 7,549.9% during 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 purchasing an additional 252,921 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of several analyst reports. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective on the stock. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $242.67.

Remove Ads

CDW Trading Down 1.9 %

CDW stock traded down $3.16 during trading hours on Thursday, hitting $163.50. The company had a trading volume of 1,075,284 shares, compared to its average volume of 1,026,139. The firm has a market cap of $21.66 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a 50-day moving average price of $185.84 and a two-hundred day moving average price of $195.95. CDW Co. has a 1 year low of $162.94 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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 the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is presently 31.37%.

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.