CDW Co. (NASDAQ:CDW) Stock Position Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 43.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 764,178 shares of the information technology services provider’s stock after selling 584,546 shares during the quarter. Ameriprise Financial Inc. owned about 0.57% of CDW worth $132,996,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after buying an additional 99,947 shares during the period. Geode Capital Management LLC lifted its holdings in CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after acquiring an additional 54,341 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Invesco Ltd. grew its stake in shares of CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after purchasing an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 7.1 %

NASDAQ:CDW opened at $175.49 on Thursday. The stock has a market cap of $23.12 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. 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 stock’s 50-day moving average is $160.82 and its two-hundred day moving average is $178.24.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays lifted 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. JPMorgan Chase & Co. cut their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Citigroup decreased their price target on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.38.

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.