CDW Co. (NASDAQ:CDW) Stock Holdings Lessened by Swiss National Bank

Swiss National Bank cut its stake in shares of CDW Co. (NASDAQ:CDW) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 419,100 shares of the information technology services provider’s stock after selling 14,100 shares during the quarter. Swiss National Bank owned 0.31% of CDW worth $95,270,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after acquiring an additional 6,799 shares during the period. Cerity Partners LLC raised its stake in CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after purchasing an additional 4,511 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of CDW by 84.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after purchasing an additional 7,310 shares in the last quarter. JGP Wealth Management LLC acquired a new stake in shares of CDW in the fourth quarter worth $1,559,000. Finally, California Public Employees Retirement System grew its holdings in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock valued at $165,244,000 after buying an additional 7,854 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CDW. JPMorgan Chase & Co. cut their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup reduced their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays reduced their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Stifel Nicolaus cut their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Stock Up 0.5 %

CDW opened at $219.56 on Friday. The company has a market capitalization of $29.51 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.11. The firm’s fifty day moving average price is $245.67 and its two-hundred day moving average price is $229.30. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 earnings per share. On average, analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW declared that its board has initiated a share buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% 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 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.