Bleakley Financial Group LLC Sells 729 Shares of CDW Co. (NASDAQ:CDW)

Bleakley Financial Group LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,320 shares of the information technology services provider’s stock after selling 729 shares during the quarter. Bleakley Financial Group LLC’s holdings in CDW were worth $404,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of CDW during the third quarter valued at about $416,111,000. Janus Henderson Group PLC boosted its stake in shares of CDW by 7,029.1% during 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 in the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW during the third quarter valued at about $172,217,000. Assenagon Asset Management S.A. boosted its stake in shares of CDW by 7,549.9% during the fourth 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. Finally, Unigestion Holding SA boosted its stake in shares of CDW by 917.4% during the third quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Down 0.2 %

NASDAQ CDW opened at $191.57 on Tuesday. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The business has a 50 day moving average price of $184.08 and a 200-day moving average price of $201.70. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate 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, equities analysts expect that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW declared that its board has authorized a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.31%. CDW’s payout ratio is 31.37%.

Analysts Set New Price Targets

CDW has been the subject of a number of analyst reports. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.