CDW Co. (NASDAQ:CDW) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,163 shares of the information technology services provider’s stock after selling 191 shares during the quarter. Mackenzie Financial Corp’s holdings in CDW were worth $4,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Cambridge Investment Research Advisors Inc. grew its position in CDW by 9.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock worth $1,165,000 after buying an additional 547 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of CDW in the first quarter valued at approximately $103,000. Panagora Asset Management Inc. grew its position in shares of CDW by 160.4% in the first quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock valued at $831,000 after purchasing an additional 2,861 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of CDW by 0.3% in the first quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock valued at $3,671,000 after purchasing an additional 65 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of CDW by 1.5% in the first quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock valued at $6,078,000 after purchasing an additional 515 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.0 %

Shares of NASDAQ CDW opened at $235.78 on Monday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm has a market cap of $31.68 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. CDW Co. has a 1 year low of $161.53 and a 1 year high of $263.37. The firm’s 50 day moving average price is $247.22 and its 200 day moving average price is $227.63.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 earnings per share. As a group, sell-side analysts anticipate that CDW Co. will post 9.89 earnings per share for the current year.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is currently 30.62%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CDW shares. JPMorgan Chase & Co. increased their price target on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays increased their price target on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Citigroup increased their price target on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW 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.