Commonwealth Equity Services LLC Cuts Position in CDW Co. (NASDAQ:CDW)

Commonwealth Equity Services LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,727 shares of the information technology services provider’s stock after selling 2,559 shares during the period. Commonwealth Equity Services LLC’s holdings in CDW were worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CDW. State Street Corp lifted its stake in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after purchasing an additional 31,858 shares during the period. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Barclays PLC increased its stake in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after buying an additional 3,424 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in CDW by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider’s stock worth $170,476,000 after buying an additional 40,666 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 0.8 %

Shares of NASDAQ CDW opened at $160.26 on Tuesday. The business has a 50-day moving average of $181.83 and a two-hundred day moving average of $190.93. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $158.76 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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 forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CDW shares. 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 research note on Thursday, February 6th. Barclays upped their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.50.

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.