CDW Co. (NASDAQ:CDW) Shares Sold by ING Groep NV

ING Groep NV decreased its position in CDW Co. (NASDAQ:CDW) by 25.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,277 shares of the information technology services provider’s stock after selling 6,913 shares during the period. ING Groep NV’s holdings in CDW were worth $3,529,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PDS Planning Inc lifted its holdings in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares during the period. Allworth Financial LP raised its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after acquiring an additional 56 shares during the period. OneAscent Wealth Management LLC boosted its holdings in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Fulcrum Equity Management boosted its holdings in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of a number of research analyst reports. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Down 3.3 %

Shares of CDW opened at $186.50 on Friday. 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 Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The stock has a market capitalization of $24.85 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.21 and a beta of 1.01. The business’s 50-day moving average price is $186.14 and its 200 day moving average price is $200.03.

CDW (NASDAQ:CDW) last released 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 net margin of 5.13% and a return on equity of 55.42%. Analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. CDW’s payout ratio is currently 31.37%.

CDW declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

CDW 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.