Handelsbanken Fonder AB Sells 39,760 Shares of CDW Co. (NASDAQ:CDW)

Handelsbanken Fonder AB reduced its position in CDW Co. (NASDAQ:CDW) by 60.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,129 shares of the information technology services provider’s stock after selling 39,760 shares during the quarter. Handelsbanken Fonder AB’s holdings in CDW were worth $4,547,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its stake in CDW by 39.7% during the fourth 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 in the last quarter. Canoe Financial LP acquired a new position in CDW during the third quarter worth $37,000. Fortitude Family Office LLC raised its stake in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in CDW during the third quarter worth $43,000. Finally, Covestor Ltd raised its stake in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock opened at $186.50 on Monday. The stock has a 50-day moving average price of $186.14 and a 200 day moving average price of $199.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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 declared that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CDW. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. UBS Group lowered 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. Barclays raised their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.