Securian Asset Management Inc. Cuts Stock Holdings in CDW Co. (NASDAQ:CDW)

Securian Asset Management Inc. decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,099 shares of the information technology services provider’s stock after selling 213 shares during the period. Securian Asset Management Inc.’s holdings in CDW were worth $1,236,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust lifted its holdings in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP lifted its holdings in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the period. Finally, Covestor Ltd lifted its holdings in CDW by 80.1% during 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. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $167.00 on Friday. The firm has a market cap of $22.13 billion, a PE ratio of 20.95, a PEG ratio of 3.21 and a beta of 1.01. The stock’s fifty day moving average price is $185.71 and its two-hundred day moving average price is $195.73. 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 Co. has a 1 year low of $162.84 and a 1 year high of $263.37.

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%. On average, equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

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

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Barclays lifted 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. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $242.67.

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.