CDW Co. (NASDAQ:CDW) Position Cut by 44 Wealth Management LLC

44 Wealth Management LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,853 shares of the information technology services provider’s stock after selling 806 shares during the quarter. 44 Wealth Management LLC’s holdings in CDW were worth $1,367,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in CDW during the 3rd quarter valued at about $1,629,000. Assenagon Asset Management S.A. grew its holdings in CDW by 7,549.9% in 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 buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. grew its holdings in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares in the last quarter. Graphene Investments SAS increased its position in CDW by 17.6% in the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares during the period. Finally, Czech National Bank raised its stake in CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after acquiring an additional 1,685 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

Shares of CDW opened at $186.50 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.24 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 50-day moving average of $186.14 and a two-hundred day moving average of $200.09.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business 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 dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are 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.