Neuberger Berman Group LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Neuberger Berman Group LLC trimmed its position in CDW Co. (NASDAQ:CDW - Free Report) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,045,139 shares of the information technology services provider's stock after selling 71,854 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.53% of CDW worth $355,934,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its stake in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP raised its holdings in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Invesco Ltd. grew its position in shares of CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after acquiring an additional 575,333 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup dropped their price objective on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average price target of $224.88.

CDW Stock Performance

NASDAQ:CDW traded down $1.26 during midday trading on Tuesday, reaching $150.48. The stock had a trading volume of 289,609 shares, compared to its average volume of 1,159,382. The stock has a market cap of $19.94 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. The firm has a fifty day simple moving average of $171.12 and a two-hundred day simple moving average of $185.15.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. On average, equities analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.66%. CDW's dividend payout ratio is currently 31.37%.

CDW announced that its board has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.