Rhumbline Advisers Has $44.81 Million Holdings in CDW Co. (NASDAQ:CDW)

Rhumbline Advisers reduced its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,490 shares of the information technology services provider's stock after selling 8,008 shares during the quarter. Rhumbline Advisers owned 0.19% of CDW worth $44,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDW. Canoe Financial LP purchased a new position in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of CDW in the third quarter worth approximately $43,000. Covestor Ltd increased its position in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of CDW in the third quarter worth approximately $90,000. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 3.3 %

NASDAQ CDW traded down $6.30 during trading on Friday, reaching $186.50. The company's stock had a trading volume of 995,159 shares, compared to its average volume of 1,376,828. 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 stock has a market capitalization of $24.85 billion, a PE ratio of 23.40, a PEG ratio of 3.24 and a beta of 1.01. The business has a 50-day moving average price of $186.14 and a 200-day moving average price of $200.09. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Barclays boosted 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. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $242.67.

CDW Profile

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.