Royal London Asset Management Ltd. lessened its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 13.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 242,806 shares of the information technology services provider's stock after selling 37,957 shares during the period. Royal London Asset Management Ltd. owned about 0.18% of CDW worth $42,258,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares during the period. Summit Trail Advisors LLC boosted its stake in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust grew its holdings in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Fulcrum Equity Management lifted its holdings in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after buying an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on CDW. Barclays upped 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. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.
Read Our Latest Research Report on CDW
CDW Stock Performance
Shares of CDW traded down $1.79 during midday trading on Tuesday, reaching $168.52. 815,381 shares of the stock were exchanged, compared to its average volume of 1,039,237. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. 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 company has a market capitalization of $22.33 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 3.21 and a beta of 1.01. The business's 50-day moving average price is $184.19 and its 200 day moving average price is $192.73.
CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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, sell-side analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is presently 31.37%.
CDW declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding 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 generally an indication that the company's board of directors believes its stock is undervalued.
About CDW
(
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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