Swiss National Bank lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,300 shares of the information technology services provider's stock after selling 21,600 shares during the period. Swiss National Bank owned approximately 0.28% of CDW worth $65,665,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in shares of CDW during the third quarter worth about $1,629,000. Assenagon Asset Management S.A. increased its position in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. grew its position in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Graphene Investments SAS grew its position in CDW by 17.6% in the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Czech National Bank grew its position in CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after purchasing an additional 1,685 shares in the last quarter. 93.15% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective 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. Finally, Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $242.67.
Check Out Our Latest Analysis on CDW
CDW Trading Up 1.2 %
NASDAQ:CDW traded up $2.08 during trading hours on Wednesday, reaching $172.84. The company's stock had a trading volume of 1,192,480 shares, compared to its average volume of 1,029,451. The firm has a 50-day simple moving average of $185.18 and a 200-day simple moving average of $194.11. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 3.21 and a beta of 1.01.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results 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%. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued 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 1.45%. CDW's dividend payout ratio is currently 31.37%.
CDW announced that its board has authorized a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.
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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