Schroder Investment Management Group Reduces Position in CDW Co. (NASDAQ:CDW)

Schroder Investment Management Group reduced its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 77.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,894 shares of the information technology services provider's stock after selling 69,642 shares during the period. Schroder Investment Management Group's holdings in CDW were worth $3,449,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW in the 3rd quarter worth about $1,629,000. Assenagon Asset Management S.A. increased its position in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after acquiring an additional 252,921 shares during the period. Franklin Resources Inc. increased its position in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after buying an additional 3,567 shares during the period. Madison Investment Advisors LLC purchased a new stake in CDW in the fourth quarter worth about $130,996,000. Finally, Graphene Investments SAS lifted its position in CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after purchasing an additional 2,600 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

CDW has been the subject of several research analyst reports. Barclays raised their target price on shares of 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 raised their target price on shares of 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 target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $235.50.

CDW Stock Down 7.0 %

Shares of NASDAQ:CDW traded down $11.13 during trading hours on Thursday, hitting $148.36. The company's stock had a trading volume of 404,131 shares, compared to its average volume of 1,144,874. CDW Co. has a 52 week low of $137.31 and a 52 week high of $250.42. 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 $19.66 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 3.21 and a beta of 0.97. The firm's fifty day moving average price is $174.25 and its 200 day moving average price is $187.01.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has initiated a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

CDW Dividend Announcement

The business also recently announced 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. This represents a $2.50 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is presently 31.37%.

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.