Empowered Funds LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Empowered Funds LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,860 shares of the information technology services provider's stock after selling 4,030 shares during the period. Empowered Funds LLC's holdings in CDW were worth $3,108,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in CDW during the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. grew its stake in CDW by 7,549.9% in 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 acquiring an additional 252,921 shares during the period. Franklin Resources Inc. grew its stake in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after acquiring an additional 3,567 shares during the period. Czech National Bank grew its stake in CDW by 6.2% in the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock valued at $5,029,000 after acquiring an additional 1,685 shares during the period. Finally, Graphene Investments SAS grew its stake in CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after acquiring an additional 2,600 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded up $1.80 during mid-day trading on Monday, reaching $189.39. 1,733,962 shares of the company's stock were exchanged, compared to its average volume of 1,442,600. The business's fifty day simple moving average is $185.05 and its 200 day simple moving average is $200.45. The firm has a market capitalization of $25.24 billion, a PE ratio of 23.76, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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%. On average, sell-side analysts expect that CDW Co. will post 9.35 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. CDW's payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Company 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.