Bahl & Gaynor Inc. Has $139.24 Million Holdings in CDW Co. (NASDAQ:CDW)

Bahl & Gaynor Inc. cut its position in shares of CDW Co. (NASDAQ:CDW) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612,541 shares of the information technology services provider’s stock after selling 8,036 shares during the quarter. Bahl & Gaynor Inc. owned about 0.46% of CDW worth $139,243,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CDW. OFI Invest Asset Management acquired a new stake in shares of CDW during the third quarter worth $25,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the third quarter worth $28,000. TFC Financial Management Inc. grew its holdings in CDW by 61.1% in the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 55 shares during the period. Larson Financial Group LLC acquired a new stake in CDW in the fourth quarter worth $30,000. Finally, Orion Capital Management LLC acquired a new stake in CDW in the third quarter worth $35,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI raised their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Citigroup raised their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Barclays raised their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price objective 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Down 0.5 %

CDW stock opened at $242.26 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The firm’s fifty day moving average price is $247.23 and its two-hundred day moving average price is $228.31. CDW Co. has a 1-year low of $162.59 and a 1-year high of $263.37. The firm has a market capitalization of $32.55 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is currently 30.62%.

CDW declared that its board has authorized a share repurchase plan on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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.