FMR LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 63.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267,818 shares of the information technology services provider's stock after selling 2,173,501 shares during the quarter. FMR LLC owned 0.95% of CDW worth $220,651,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Federated Hermes Inc. increased its holdings in shares of CDW by 23.7% in the 4th quarter. Federated Hermes Inc. now owns 1,092 shares of the information technology services provider's stock valued at $190,000 after acquiring an additional 209 shares during the period. Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of CDW during the fourth quarter worth about $8,702,000. Russell Investments Group Ltd. increased its position in CDW by 11.8% in the 4th quarter. Russell Investments Group Ltd. now owns 70,623 shares of the information technology services provider's stock valued at $12,276,000 after acquiring an additional 7,469 shares during the period. Wedbush Securities Inc. raised its stake in CDW by 50.5% during the 4th quarter. Wedbush Securities Inc. now owns 2,047 shares of the information technology services provider's stock valued at $356,000 after acquiring an additional 687 shares during the last quarter. Finally, Aviva PLC lifted its position in CDW by 1,447.5% during the 4th quarter. Aviva PLC now owns 80,469 shares of the information technology services provider's stock worth $14,005,000 after acquiring an additional 75,269 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Trading Down 1.2 %
Shares of NASDAQ:CDW traded down $1.88 during midday trading on Wednesday, reaching $148.95. The company had a trading volume of 528,075 shares, compared to its average volume of 1,161,950. The company has a fifty day simple moving average of $170.14 and a two-hundred day simple moving average of $184.91. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. 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 Co. has a 1-year low of $137.31 and a 1-year high of $248.12.
CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. Research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.68%. CDW's payout ratio is presently 31.37%.
CDW announced that its Board of Directors has approved a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on CDW shares. Morgan Stanley increased 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. Citigroup reduced their price objective on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday. UBS Group dropped 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, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $224.88.
Check Out Our Latest Research Report on CDW
CDW Profile
(
Free Report)
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.
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