Trust Point Inc. Has $260,000 Position in CDW Co. (NASDAQ:CDW)

Trust Point Inc. lessened its holdings in CDW Co. (NASDAQ:CDW) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,493 shares of the information technology services provider’s stock after selling 101 shares during the period. Trust Point Inc.’s holdings in CDW were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC raised its stake 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 acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of CDW in the 3rd quarter worth approximately $172,217,000. Perpetual Ltd bought a new stake in CDW during the 3rd quarter worth approximately $158,300,000. Finally, Assenagon Asset Management S.A. increased its holdings in 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. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 3.0 %

NASDAQ:CDW opened at $199.86 on Friday. The stock’s fifty day simple moving average is $183.54 and its 200-day simple moving average is $202.63. The firm has a market capitalization of $26.63 billion, a P/E ratio of 24.43, a P/E/G ratio of 5.39 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted its 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 return on equity of 58.31% and a net margin of 5.33%. Equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW declared that its Board of Directors has initiated a stock repurchase 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 buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.25%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

Analyst Ratings Changes

CDW has been the topic of a number of recent analyst reports. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $242.67.

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.