Private Trust Co. NA Has $220,000 Stock Position in CDW Co. (NASDAQ:CDW)

Private Trust Co. NA cut its stake in shares of CDW Co. (NASDAQ:CDW) by 37.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,266 shares of the information technology services provider’s stock after selling 763 shares during the period. Private Trust Co. NA’s holdings in CDW were worth $220,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA bought a new stake in CDW during the 3rd quarter worth $416,111,000. Janus Henderson Group PLC boosted its stake in shares of CDW by 7,029.1% during the third 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 purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of CDW during the third quarter worth about $172,217,000. Proficio Capital Partners LLC increased 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 valued at $119,598,000 after buying an additional 683,446 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in CDW by 7,549.9% in the 4th 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 last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. UBS Group decreased 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. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 3.2 %

Shares of NASDAQ:CDW opened at $172.50 on Tuesday. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. 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 business’s 50-day moving average is $186.80 and its 200-day moving average is $198.81. The company has a market capitalization of $22.85 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its board has initiated a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.