Duncker Streett & Co. Inc. Lowers Holdings in CDW Co. (NASDAQ:CDW)

Duncker Streett & Co. Inc. decreased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 81.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 967 shares of the information technology services provider's stock after selling 4,381 shares during the quarter. Duncker Streett & Co. Inc.'s holdings in CDW were worth $168,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its stake in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after buying an additional 64,702 shares during the period. Geode Capital Management LLC increased its position in shares of CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after purchasing an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in CDW in the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC grew its position 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 buying an additional 1,446,025 shares during the period. Finally, Barclays PLC grew its holdings in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock valued at $261,779,000 after purchasing an additional 3,424 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on CDW. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price target on the stock. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $242.67.

CDW Stock Down 2.5 %

CDW stock traded down $4.29 during trading hours on Thursday, hitting $168.30. The company's stock had a trading volume of 622,699 shares, compared to its average volume of 1,338,339. 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 stock has a 50 day moving average price of $186.57 and a two-hundred day moving average price of $197.93. The company has a market capitalization of $22.30 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 12 month low of $167.83 and a 12 month high of $263.37.

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 for the quarter, beating 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%. On average, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.49%. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are 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.