Natixis Advisors L.P. Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Natixis Advisors L.P. reduced its position in CDW Co. (NASDAQ:CDW) by 37.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 88,586 shares of the information technology services provider’s stock after selling 52,939 shares during the period. Natixis Advisors L.P. owned about 0.07% of CDW worth $20,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of CDW by 16.1% during the 4th 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 in the last quarter. Cerity Partners LLC increased its position in shares of CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,511 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares during the last quarter. JGP Wealth Management LLC bought a new stake in shares of CDW in the 4th quarter worth about $1,559,000. Finally, California Public Employees Retirement System increased its position in shares of CDW by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Stifel Nicolaus lowered their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective 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 decreased their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays decreased their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Stock Up 0.5 %

CDW stock opened at $219.56 on Monday. The firm has a market cap of $29.51 billion, a PE 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 quick ratio of 1.11 and a current ratio of 1.26. The firm’s 50 day moving average price is $245.67 and its two-hundred day moving average price is $229.47. CDW Co. has a twelve month low of $162.59 and a twelve month 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 the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 EPS. On average, research analysts predict that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio is presently 30.96%.

CDW declared that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.