HM Payson & Co. Has $62.94 Million Holdings in CDW Co. (NASDAQ:CDW)

HM Payson & Co. lessened its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 7.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 361,654 shares of the information technology services provider's stock after selling 30,515 shares during the quarter. CDW makes up approximately 1.1% of HM Payson & Co.'s investment portfolio, making the stock its 28th largest holding. HM Payson & Co. owned approximately 0.27% of CDW worth $62,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of CDW in the 3rd quarter valued at $43,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Covestor Ltd increased its stake in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Canoe Financial LP increased its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ CDW opened at $168.37 on Friday. The company has a fifty day simple moving average of $186.37 and a 200 day simple moving average of $197.71. CDW Co. has a 12-month low of $164.98 and a 12-month high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company has a market cap of $22.31 billion, a P/E ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01.

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CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio is 31.37%.

CDW declared that its board has initiated a share buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding 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 programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on CDW shares. UBS Group lowered their price objective on shares of 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 lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Finally, Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $242.67.

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.

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