Fiduciary Trust Co Has $647,000 Stake in CDW Co. (NASDAQ:CDW)

Fiduciary Trust Co lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,715 shares of the information technology services provider’s stock after selling 159 shares during the period. Fiduciary Trust Co’s holdings in CDW were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 acquiring an additional 99,947 shares during the period. Geode Capital Management LLC boosted its position in shares of CDW by 1.6% in the fourth 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 period. Wellington Management Group LLP boosted its position in shares of CDW by 29.2% in the fourth 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 acquiring an additional 574,444 shares during the period. Invesco Ltd. boosted its position in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock valued at $422,351,000 after acquiring an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock valued at $420,149,000 after acquiring an additional 575,333 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.6%

Shares of CDW stock opened at $178.94 on Monday. The stock has a market cap of $23.56 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. CDW Co. has a one year low of $137.31 and a one year high of $241.26. The stock has a fifty day moving average price of $161.13 and a 200 day moving average price of $177.13. 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 issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. Analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has initiated a share buyback 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW’s payout ratio is presently 30.98%.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now directly owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company 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 for the company in a research note on Thursday, April 17th. Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group reduced their target price on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.38.

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.