Zions Bancorporation N.A. Trims Stake in CDW Co. (NASDAQ:CDW)

Zions Bancorporation N.A. lessened its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 88.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471 shares of the information technology services provider's stock after selling 3,642 shares during the quarter. Zions Bancorporation N.A.'s holdings in CDW were worth $82,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock worth $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW in the 3rd quarter worth about $172,217,000. Madison Investment Advisors LLC bought a new position in CDW in the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC boosted its stake in CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after purchasing an additional 252,921 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CDW shares. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Barclays increased their target price on shares of 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 cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, CDW has an average rating of "Moderate Buy" and a consensus price target of $235.50.

CDW Stock Performance

Shares of NASDAQ CDW traded down $1.25 during midday trading on Monday, hitting $160.26. The company's stock had a trading volume of 1,245,067 shares, compared to its average volume of 1,087,212. The stock has a fifty day moving average price of $181.83 and a 200 day moving average price of $190.93. The firm has a market capitalization of $21.23 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $158.76 and a one year high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock buyback plan 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.56%. CDW's dividend payout ratio (DPR) is 31.37%.

CDW Company Profile

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.