CDW Co. (NASDAQ:CDW) Holdings Cut by Cromwell Holdings LLC

Cromwell Holdings LLC decreased its stake in CDW Co. (NASDAQ:CDW) by 37.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254 shares of the information technology services provider’s stock after selling 150 shares during the quarter. Cromwell Holdings LLC’s holdings in CDW were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas bought a new position in shares of CDW during the 3rd quarter valued at $1,629,000. Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% during the 4th 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 in the last quarter. Franklin Resources Inc. raised its holdings in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Graphene Investments SAS raised its holdings in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after purchasing an additional 1,685 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $192.80 on Friday. The company has a market capitalization of $25.69 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company’s fifty day moving average price is $185.94 and its 200 day moving average price is $200.23.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW’s dividend payout ratio is 31.37%.

CDW announced that its board has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.