CDW Co. (NASDAQ:CDW) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in CDW Co. (NASDAQ:CDW - Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,508 shares of the information technology services provider's stock after selling 4,305 shares during the quarter. Sei Investments Co.'s holdings in CDW were worth $7,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its holdings in shares of CDW by 45.8% in the 4th quarter. Mizuho Securities USA LLC now owns 12,630 shares of the information technology services provider's stock valued at $2,198,000 after acquiring an additional 3,968 shares during the last quarter. Quantbot Technologies LP raised its holdings in CDW by 453.5% during the fourth quarter. Quantbot Technologies LP now owns 103,856 shares of the information technology services provider's stock worth $18,075,000 after purchasing an additional 85,092 shares in the last quarter. Blueshift Asset Management LLC lifted its position in shares of CDW by 257.6% during the 4th quarter. Blueshift Asset Management LLC now owns 5,057 shares of the information technology services provider's stock worth $880,000 after buying an additional 3,643 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of CDW by 10.3% in the 4th quarter. iA Global Asset Management Inc. now owns 15,024 shares of the information technology services provider's stock valued at $2,615,000 after buying an additional 1,408 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of CDW in the 4th quarter valued at $516,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDW. Morgan Stanley lifted their price target 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. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $235.50.

CDW Stock Performance

CDW stock traded down $12.90 during trading on Thursday, hitting $151.57. The company had a trading volume of 3,559,275 shares, compared to its average volume of 1,104,343. The firm has a 50-day moving average price of $179.73 and a 200-day moving average price of $190.07. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $20.08 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1-year low of $150.39 and a 1-year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, analysts expect that CDW Co. will post 9.41 earnings per share for the current 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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. CDW's dividend payout ratio (DPR) is 31.37%.

CDW announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management 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.