CDW Co. (NASDAQ:CDW) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 48.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,243 shares of the information technology services provider’s stock after selling 1,184 shares during the period. UNIVEST FINANCIAL Corp’s holdings in CDW were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new stake in CDW during the 3rd quarter valued at about $172,217,000. Madison Investment Advisors LLC acquired a new position in shares of CDW in the fourth quarter valued at about $130,996,000. Proficio Capital Partners LLC raised its stake in shares of CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW opened at $163.84 on Friday. The stock has a market cap of $21.71 billion, a P/E ratio of 20.56, 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 current ratio of 1.35 and a quick ratio of 1.24. The firm has a fifty day moving average price of $182.94 and a 200 day moving average price of $192.05. CDW Co. has a 1 year low of $161.19 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last posted its 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%. Equities research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has approved a stock repurchase 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 buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CDW. 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 report on Thursday, February 6th. 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 research note on Thursday, February 6th. Finally, UBS Group decreased their target price 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.