HighTower Advisors LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,851 shares of the information technology services provider's stock after selling 3,413 shares during the period. HighTower Advisors LLC's holdings in CDW were worth $4,499,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in shares of CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC boosted 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 valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new position in shares of CDW during the 3rd quarter valued at about $172,217,000. Proficio Capital Partners LLC boosted its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of CDW by 7,549.9% during the 4th 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. Institutional investors and hedge funds own 93.15% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group decreased 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 raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock 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 given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.50.
Read Our Latest Stock Report on CDW
CDW Stock Down 1.5 %
Shares of CDW stock traded down $2.52 during trading on Friday, hitting $165.57. 2,060,916 shares of the company were exchanged, compared to its average volume of 1,040,318. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. The business's 50-day simple moving average is $184.40 and its 200 day simple moving average is $193.19. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate 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 forecast that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.
CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.
CDW Company 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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