Chevy Chase Trust Holdings LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Chevy Chase Trust Holdings LLC lessened its position in shares of CDW Co. (NASDAQ:CDW) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,997 shares of the information technology services provider’s stock after selling 1,570 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in CDW were worth $12,356,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW in the third quarter worth about $416,111,000. Janus Henderson Group PLC boosted its stake in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW in the third quarter worth about $172,217,000. Assenagon Asset Management S.A. boosted 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 buying an additional 252,921 shares during the last quarter. Finally, Unigestion Holding SA boosted its stake in shares of CDW by 917.4% in the third quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock worth $39,021,000 after buying an additional 155,517 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $189.39 on Monday. The business has a 50 day simple moving average of $184.91 and a two-hundred day simple moving average of $200.62. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock has a market capitalization of $25.24 billion, a P/E ratio of 23.76, a PEG ratio of 5.40 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 1.28.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, analysts predict that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. CDW’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

A number of brokerages have recently commented on CDW. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.