Alliancebernstein L.P. Has $159.51 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Alliancebernstein L.P. lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 65.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 916,519 shares of the information technology services provider’s stock after selling 1,749,492 shares during the quarter. Alliancebernstein L.P.’s holdings in CDW were worth $159,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDW. Allworth Financial LP grew its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of 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 in the last quarter. Fulcrum Equity Management lifted its holdings in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Up 1.1 %

Shares of NASDAQ CDW opened at $162.08 on Wednesday. CDW Co. has a 12 month low of $158.76 and a 12 month high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a fifty day simple moving average of $181.24 and a two-hundred day simple moving average of $190.52. The firm has a market capitalization of $21.47 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has authorized a share repurchase plan 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 plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CDW shares. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays boosted 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. Finally, UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

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.