CDW Co. (NASDAQ:CDW) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of CDW Co. (NASDAQ:CDW) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,004 shares of the information technology services provider’s stock after selling 2,060 shares during the quarter. Corebridge Financial Inc.’s holdings in CDW were worth $7,136,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new position in shares of CDW during the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. increased its stake in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. lifted its position in CDW by 3.4% during the third 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 during the period. Madison Investment Advisors LLC acquired a new stake in CDW in the 4th quarter worth about $130,996,000. Finally, Graphene Investments SAS grew its holdings 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 buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 1.4 %

Shares of CDW stock opened at $161.51 on Friday. CDW Co. has a fifty-two week low of $160.96 and a fifty-two week high of $263.37. The firm’s 50 day moving average price is $182.40 and its two-hundred day moving average price is $191.68. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

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, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has authorized a share buyback program 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.55%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley increased 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. Finally, UBS Group lowered their price objective on shares of 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Company 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.