CDW Co. (NASDAQ:CDW) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 377,300 shares of the information technology services provider’s stock after selling 21,600 shares during the period. Swiss National Bank’s holdings in CDW were worth $65,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new stake in CDW in the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC increased its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Holocene Advisors LP acquired a new position in CDW during the third quarter worth $172,217,000. Proficio Capital Partners LLC lifted its holdings in CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group reduced their price objective 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 given a buy rating to the stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 2.1 %

Shares of CDW opened at $167.00 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a 50-day moving average price of $185.56 and a 200 day moving average price of $195.07. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The firm has a market capitalization of $22.13 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 1.01.

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

CDW declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

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.