CDW Co. (NASDAQ:CDW) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH reduced its holdings in CDW Co. (NASDAQ:CDW) by 84.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,785 shares of the information technology services provider’s stock after selling 30,400 shares during the quarter. Erste Asset Management GmbH’s holdings in CDW were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CDW. Allworth Financial LP lifted its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new position in shares of CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Canoe Financial LP boosted 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 buying an additional 112 shares in the last quarter. Finally, Covestor Ltd grew its position 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 buying an additional 109 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CDW. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Up 2.1 %

CDW opened at $167.00 on Friday. The business’s fifty day simple moving average is $185.71 and its 200 day simple moving average is $195.73. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The firm has a market cap of $22.13 billion, a P/E ratio of 20.95, a PEG 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 released its quarterly earnings results 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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

CDW announced that its board has initiated a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.