Amalgamated Bank Sells 511 Shares of CDW Co. (NASDAQ:CDW)

Amalgamated Bank reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,723 shares of the information technology services provider’s stock after selling 511 shares during the quarter. Amalgamated Bank’s holdings in CDW were worth $4,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its stake 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 purchasing an additional 52 shares during the period. Ashton Thomas Securities LLC bought a new stake in CDW in the third quarter worth about $43,000. Covestor Ltd raised its position in 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 acquiring an additional 109 shares during the period. Canoe Financial LP boosted its stake in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of CDW during the 3rd quarter valued at approximately $90,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CDW. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $179.00 on Friday. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The business’s fifty day moving average is $186.73 and its 200 day moving average is $199.29. 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 firm has a market cap of $23.72 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.21 and a beta of 1.01.

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

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has authorized a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.