Thoroughbred Financial Services LLC Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Thoroughbred Financial Services LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,826 shares of the information technology services provider’s stock after selling 1,370 shares during the period. Thoroughbred Financial Services LLC’s holdings in CDW were worth $665,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CDW. Oddo BHF Asset Management Sas bought a new position in CDW in the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. increased its position in shares of CDW by 7,549.9% during 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 buying an additional 252,921 shares during the period. Franklin Resources Inc. raised its stake in CDW by 3.4% in 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 in the last quarter. Madison Investment Advisors LLC purchased a new stake in CDW in the fourth quarter worth about $130,996,000. Finally, Graphene Investments SAS boosted its position in CDW by 17.6% during 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 in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CDW. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Price Performance

Shares of CDW stock opened at $144.49 on Friday. The stock has a market cap of $19.14 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.21 and a beta of 1.01. 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 stock’s fifty day moving average is $178.71 and its 200 day moving average is $189.30. CDW Co. has a one year low of $141.80 and a one year high of $257.33.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 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%. Sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has authorized a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy 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.

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.