Renaissance Group LLC lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 56.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,060 shares of the information technology services provider's stock after selling 2,689 shares during the period. Renaissance Group LLC's holdings in CDW were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in CDW in the 4th quarter worth approximately $144,826,000. Madison Investment Advisors LLC acquired a new stake in shares of CDW during the fourth quarter worth $130,996,000. Proficio Capital Partners LLC grew its holdings in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after buying an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares during the period. Finally, Wellington Management Group LLP raised its stake in CDW by 29.2% in the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.
CDW Price Performance
Shares of NASDAQ:CDW traded up $1.51 during trading on Monday, reaching $150.31. The stock had a trading volume of 363,691 shares, compared to its average volume of 1,158,703. The business has a fifty day moving average price of $172.21 and a 200-day moving average price of $185.67. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. 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 stock has a market cap of $19.91 billion, a PE ratio of 18.86, a PEG ratio of 3.21 and a beta of 0.97.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates 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 analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Dividend Announcement
The company also recently announced 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 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.
CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.
Read Our Latest Stock 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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