Principal Securities Inc. Has $136,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Principal Securities Inc. lowered its stake in CDW Co. (NASDAQ:CDW) by 60.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 780 shares of the information technology services provider’s stock after selling 1,183 shares during the period. Principal Securities Inc.’s holdings in CDW were worth $136,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CDW. Fortitude Family Office LLC increased its stake 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 buying an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new stake in CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd raised its holdings 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 valued at $55,000 after purchasing an additional 109 shares during the last quarter. Canoe Financial LP boosted its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of CDW during the third quarter valued at approximately $90,000. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 2.2 %

NASDAQ CDW opened at $182.56 on Wednesday. The company has a market capitalization of $24.33 billion, a P/E ratio of 22.91, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a 50 day moving average price of $186.44 and a 200-day moving average price of $199.57.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a stock buyback program 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 buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group decreased 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. Finally, Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.67.

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.