Todd Asset Management LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Todd Asset Management LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,315 shares of the information technology services provider’s stock after selling 11,518 shares during the period. Todd Asset Management LLC’s holdings in CDW were worth $21,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. State Street Corp lifted its position in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC grew its holdings in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC lifted its stake in CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after purchasing an additional 3,424 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW opened at $186.69 on Tuesday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The firm’s fifty day moving average is $186.32 and its two-hundred day moving average is $199.79. The firm has a market cap of $24.88 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 3.21 and a beta of 1.01.

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

CDW announced that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDW. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.