Wells Fargo & Company MN Has $21.61 Million Stock Position in CDW Co. (NASDAQ:CDW)

Wells Fargo & Company MN cut its holdings in CDW Co. (NASDAQ:CDW) by 35.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,171 shares of the information technology services provider’s stock after selling 66,939 shares during the period. Wells Fargo & Company MN owned about 0.09% of CDW worth $21,611,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after acquiring an additional 54,341 shares during the last quarter. Wellington Management Group LLP increased its position in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after acquiring an additional 574,444 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after acquiring an additional 575,333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CDW by 3.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock valued at $255,434,000 after purchasing an additional 50,805 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CDW shares. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered 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, Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Price Performance

Shares of CDW opened at $148.80 on Friday. The company’s 50-day moving average is $172.21 and its 200-day moving average is $185.97. 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 firm has a market capitalization of $19.71 billion, a PE ratio of 18.67, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.68%. CDW’s payout ratio is currently 31.37%.

CDW announced that its board has authorized a share buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About CDW

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.