Amundi Trims Stock Holdings in CDW Co. (NASDAQ:CDW)

Amundi reduced its position in CDW Co. (NASDAQ:CDW) by 61.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,090,358 shares of the information technology services provider’s stock after selling 1,708,356 shares during the quarter. Amundi’s holdings in CDW were worth $197,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Machina Capital S.A.S. acquired a new position in CDW in the 4th quarter valued at about $1,548,000. Andra AP fonden increased its holdings in shares of CDW by 356.7% in the fourth quarter. Andra AP fonden now owns 95,000 shares of the information technology services provider’s stock valued at $16,534,000 after purchasing an additional 74,200 shares during the period. Edgestream Partners L.P. increased its holdings in shares of CDW by 43.7% in the fourth quarter. Edgestream Partners L.P. now owns 27,099 shares of the information technology services provider’s stock valued at $4,716,000 after purchasing an additional 8,238 shares during the period. E Fund Management Co. Ltd. raised its stake in shares of CDW by 32.4% during the fourth quarter. E Fund Management Co. Ltd. now owns 4,267 shares of the information technology services provider’s stock worth $743,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of CDW during the fourth quarter worth $27,243,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW opened at $168.37 on Monday. CDW Co. has a 1-year low of $164.98 and a 1-year high of $263.37. The stock has a market cap of $22.31 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.21 and a beta of 1.01. The stock’s 50 day simple moving average is $186.22 and its 200 day simple moving average is $197.00. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. As a group, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CDW shares. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays increased their target price on 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 price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW 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.