LFL Advisers LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

LFL Advisers LLC lowered its position in shares of CDW Co. (NASDAQ:CDW) by 7.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 158,545 shares of the information technology services provider’s stock after selling 13,600 shares during the period. CDW accounts for 10.7% of LFL Advisers LLC’s investment portfolio, making the stock its 7th largest position. LFL Advisers LLC’s holdings in CDW were worth $27,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CDW. Norges Bank bought a new position in shares of CDW in the fourth quarter valued at $144,826,000. Madison Investment Advisors LLC acquired a new position in shares of CDW in the 4th quarter worth $130,996,000. Proficio Capital Partners LLC raised its position in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after purchasing an additional 683,446 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of CDW by 31.3% during 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 purchasing an additional 575,333 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CDW by 29.2% in 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 during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Up 1.4 %

CDW stock opened at $148.80 on Monday. The firm’s 50 day moving average price is $172.21 and its two-hundred day moving average price is $185.67. The firm has a market cap of $19.71 billion, a PE ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.68%. CDW’s payout ratio is 31.37%.

CDW announced 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays lifted their price objective 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. Four equities research 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, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

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.