Cornerstone Investment Partners LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Cornerstone Investment Partners LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 138,437 shares of the information technology services provider’s stock after selling 925 shares during the quarter. CDW makes up 1.8% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 28th largest position. Cornerstone Investment Partners LLC’s holdings in CDW were worth $31,469,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Scotia Capital Inc. increased its holdings in shares of CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares during the period. Diversified Trust Co increased its stake in CDW by 4.6% in the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after acquiring an additional 51 shares during the last quarter. Phoenix Holdings Ltd. raised its holdings in shares of CDW by 4.3% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 52 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after acquiring an additional 53 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Citigroup raised their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Evercore ISI upped 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. Finally, Barclays raised their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Trading Down 0.2 %

Shares of NASDAQ:CDW traded down $0.41 on Friday, reaching $235.29. 172,627 shares of the company traded hands, compared to its average volume of 698,237. The stock has a market capitalization of $31.62 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The business’s 50-day simple moving average is $247.41 and its 200 day simple moving average is $227.05. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a 52 week low of $161.53 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.40 EPS. CDW’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is 30.62%.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.