Royal London Asset Management Ltd. Has $42.26 Million Holdings in CDW Co. (NASDAQ:CDW)

Royal London Asset Management Ltd. lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,806 shares of the information technology services provider’s stock after selling 37,957 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.18% of CDW worth $42,258,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW in the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC grew its position in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of CDW in the third quarter valued at approximately $172,217,000. Madison Investment Advisors LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $130,996,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after buying an additional 683,446 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CDW shares. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 2.7 %

Shares of CDW opened at $168.09 on Friday. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a fifty day moving average of $184.75 and a 200-day moving average of $193.78.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

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.