Todd Asset Management LLC trimmed its stake in CDW Co. (NASDAQ:CDW - Free Report) by 8.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,315 shares of the information technology services provider's stock after selling 11,518 shares during the quarter. Todd Asset Management LLC owned approximately 0.09% of CDW worth $21,462,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CDW. Allworth Financial LP lifted its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Canoe Financial LP acquired a new stake in CDW during the 3rd quarter valued at $37,000. Fortitude Family Office LLC lifted its holdings 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 valued at $39,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter valued at $43,000. Finally, Covestor Ltd boosted 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 buying an additional 109 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.
CDW Stock Down 0.4 %
CDW stock traded down $0.80 during trading hours on Friday, hitting $178.20. The company's stock had a trading volume of 1,682,111 shares, compared to its average volume of 1,364,503. The stock has a 50 day moving average price of $186.73 and a two-hundred day moving average price of $199.29. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a market capitalization of $23.61 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.
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%. On average, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.
CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
CDW Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio is 31.37%.
Analyst Upgrades and Downgrades
CDW has been the subject of several research analyst reports. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a 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. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $242.67.
Read Our Latest Analysis on CDW
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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