JPMorgan Chase & Co. Has $55.01 Million Stake in CDW Co. (NASDAQ:CDW)

JPMorgan Chase & Co. cut its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 63.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,064 shares of the information technology services provider's stock after selling 550,245 shares during the quarter. JPMorgan Chase & Co. owned about 0.24% of CDW worth $55,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Allworth Financial LP boosted its holdings in CDW by 39.7% in the fourth 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 last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter worth $32,000. Parkside Financial Bank & Trust grew its holdings 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 worth $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP grew its holdings 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 worth $48,000 after acquiring an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW in the 4th quarter worth $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 5.4 %

Shares of CDW stock traded down $8.61 during trading hours on Thursday, reaching $150.87. The company had a trading volume of 351,549 shares, compared to its average volume of 1,489,198. The company has a 50 day moving average of $174.25 and a 200 day moving average of $187.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a 1-year low of $137.31 and a 1-year high of $249.33.

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CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.66%. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Morgan Stanley upped 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, UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four 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 $235.50.

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.