American Century Companies Inc. Reduces Holdings in CDW Co. (NASDAQ:CDW)

American Century Companies Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 55.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 445,256 shares of the information technology services provider’s stock after selling 543,541 shares during the period. American Century Companies Inc.’s holdings in CDW were worth $77,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its stake in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after acquiring an additional 31,858 shares during the period. Janus Henderson Group PLC raised its stake in 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 worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Barclays PLC lifted its position in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in CDW by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider’s stock valued at $170,476,000 after purchasing an additional 40,666 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CDW shares. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays raised their price target on shares of 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 objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Price Performance

Shares of NASDAQ CDW opened at $170.31 on Tuesday. 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’s 50 day simple moving average is $184.19 and its 200-day simple moving average is $192.73. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.