Andra AP fonden cut its holdings in shares of CDW Co. (NASDAQ:CDW – Free Report) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,200 shares of the information technology services provider’s stock after selling 4,300 shares during the period. Andra AP fonden’s holdings in CDW were worth $4,479,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of CDW by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock valued at $2,812,692,000 after buying an additional 196,216 shares during the last quarter. State Street Corp lifted its holdings in CDW by 2.1% in the second quarter. State Street Corp now owns 5,391,296 shares of the information technology services provider’s stock valued at $989,303,000 after acquiring an additional 110,044 shares during the period. Longview Partners Guernsey LTD lifted its holdings in CDW by 6.4% in the second quarter. Longview Partners Guernsey LTD now owns 3,352,546 shares of the information technology services provider’s stock valued at $615,192,000 after acquiring an additional 203,008 shares during the period. Geode Capital Management LLC lifted its holdings in CDW by 2.5% in the second quarter. Geode Capital Management LLC now owns 2,953,417 shares of the information technology services provider’s stock valued at $540,574,000 after acquiring an additional 72,363 shares during the period. Finally, Morgan Stanley lifted its holdings in CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after acquiring an additional 1,383,869 shares during the period. 93.04% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on CDW. Barclays increased their target price on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday. Morgan Stanley downgraded CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective on the stock. in a research note on Tuesday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $223.60.
CDW Stock Performance
NASDAQ:CDW opened at $245.23 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 2.46. CDW Co. has a 12-month low of $160.66 and a 12-month high of $247.63. The stock has a 50-day moving average price of $223.81 and a 200 day moving average price of $212.21. The stock has a market capitalization of $32.85 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.93 and a beta of 1.10.
CDW (NASDAQ:CDW – Get Free Report) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the business posted $2.40 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.71 EPS for the current fiscal year.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 26th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, February 23rd. CDW’s dividend payout ratio is currently 30.62%.
CDW declared that its board has authorized a stock buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Insider Buying and Selling
In other CDW news, insider Christina M. Corley sold 700 shares of CDW stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total value of $154,007.00. Following the sale, the insider now owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CDW news, insider Christina M. Corley sold 700 shares of CDW stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total value of $154,007.00. Following the sale, the insider now owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christina M. Corley sold 48,320 shares of CDW stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $217.23, for a total value of $10,496,553.60. Following the completion of the sale, the insider now directly owns 62,536 shares in the company, valued at approximately $13,584,695.28. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.