US Bancorp DE Sells 7,436 Shares of CDW Co. (NASDAQ:CDW)

US Bancorp DE reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 23.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,660 shares of the information technology services provider’s stock after selling 7,436 shares during the quarter. US Bancorp DE’s holdings in CDW were worth $4,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CDW during the 3rd quarter worth approximately $43,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Covestor Ltd lifted its stake in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares during the last quarter. Finally, Canoe Financial LP lifted its stake in shares of CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 0.7 %

Shares of NASDAQ:CDW opened at $172.59 on Thursday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The business’s fifty day simple moving average is $186.64 and its 200-day simple moving average is $198.10. The company has a market capitalization of $22.87 billion, a PE ratio of 21.65, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. As a group, equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.45%. CDW’s dividend payout ratio (DPR) is 31.37%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted 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. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.