Zions Bancorporation N.A. Sells 3,642 Shares of CDW Co. (NASDAQ:CDW)

Zions Bancorporation N.A. reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 88.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 471 shares of the information technology services provider’s stock after selling 3,642 shares during the quarter. Zions Bancorporation N.A.’s holdings in CDW were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Allworth Financial LP grew its position in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP increased its position in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in CDW during the fourth quarter valued at approximately $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

NASDAQ:CDW opened at $167.33 on Thursday. The firm’s fifty day moving average price is $183.42 and its two-hundred day moving average price is $192.25. 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 company has a market cap of $22.17 billion, a P/E ratio of 20.99, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $162.84 and a one year high of $263.37.

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

CDW declared that its board has approved a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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 was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.49%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on CDW shares. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.50.

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.