National Pension Service Trims Stock Position in CDW Co. (NASDAQ:CDW)

National Pension Service lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 205,240 shares of the information technology services provider’s stock after selling 2,301 shares during the quarter. National Pension Service’s holdings in CDW were worth $35,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. PDS Planning Inc grew its stake in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares during the period. Allworth Financial LP grew its stake in shares of CDW by 39.7% during the 4th 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. Summit Trail Advisors LLC grew its stake in shares of CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after acquiring an additional 56 shares during the period. OneAscent Wealth Management LLC grew its stake in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the period. Finally, Fulcrum Equity Management grew its stake in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Stock Down 0.4 %

NASDAQ CDW opened at $178.20 on Friday. 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 company has a market capitalization of $23.61 billion, a P/E ratio of 22.36, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The stock has a 50 day moving average price of $186.73 and a 200-day moving average price of $199.29.

CDW (NASDAQ:CDW) last posted 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, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its board has approved 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 a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW’s dividend payout ratio is currently 31.37%.

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.