Price T Rowe Associates Inc. MD Trims Stake in CDW Co. (NASDAQ:CDW)

Price T Rowe Associates Inc. MD reduced its stake in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,218 shares of the information technology services provider’s stock after selling 466 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in CDW were worth $70,271,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new stake in shares of CDW in the second quarter valued at approximately $40,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of CDW in the third quarter valued at approximately $61,000. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of CDW in the third quarter valued at approximately $62,000. NuWave Investment Management LLC purchased a new stake in shares of CDW in the third quarter valued at approximately $72,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of CDW in the third quarter valued at approximately $76,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Donna F. Zarcone sold 4,703 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total value of $955,790.69. Following the transaction, the director now owns 18,058 shares of the company’s stock, valued at approximately $3,669,927.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James boosted their price objective on CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Citigroup lifted their price target on CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. JPMorgan Chase & Co. lifted their price target on CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 20th. Credit Suisse Group lifted their price target on CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Finally, StockNews.com lowered CDW from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.86.

CDW Stock Performance

NASDAQ CDW opened at $188.42 on Tuesday. The stock’s fifty day moving average is $198.28 and its two-hundred day moving average is $182.53. The firm has a market capitalization of $25.55 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.13. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.33. CDW Co. has a fifty-two week low of $147.91 and a fifty-two week high of $215.00.

CDW (NASDAQ:CDW – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $6.19 billion. CDW had a return on equity of 103.95% and a net margin of 4.69%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. On average, research analysts anticipate that CDW Co. will post 9.87 earnings per share for the current year.

CDW declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 8th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 29.03%.

About CDW

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CDW Corp. engages in the provision of information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, the United Kingdom and Canada. It operates through the following segments: Corporate, Small Business, and Public. The Corporate segment serves the private sector business customers.