CDW Co. (NASDAQ:CDW) Stock Holdings Lessened by Greenleaf Trust

Greenleaf Trust lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,030 shares of the information technology services provider’s stock after selling 118 shares during the period. Greenleaf Trust’s holdings in CDW were worth $353,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CDW. DAVENPORT & Co LLC raised its holdings in shares of CDW by 838.6% during the fourth quarter. DAVENPORT & Co LLC now owns 11,901 shares of the information technology services provider’s stock valued at $2,064,000 after acquiring an additional 10,633 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in CDW by 4.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,996 shares of the information technology services provider’s stock worth $695,000 after purchasing an additional 169 shares during the period. China Universal Asset Management Co. Ltd. grew its position in CDW by 28.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,169 shares of the information technology services provider’s stock worth $377,000 after purchasing an additional 475 shares in the last quarter. Waldron Private Wealth LLC raised its stake in CDW by 103.0% during the 4th quarter. Waldron Private Wealth LLC now owns 3,366 shares of the information technology services provider’s stock valued at $586,000 after purchasing an additional 1,708 shares during the period. Finally, Mediolanum International Funds Ltd lifted its holdings in shares of CDW by 53.4% in the fourth quarter. Mediolanum International Funds Ltd now owns 31,336 shares of the information technology services provider’s stock valued at $5,419,000 after purchasing an additional 10,902 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CDW. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley increased their price target on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Price Performance

NASDAQ CDW opened at $206.13 on Thursday. The company has a 50 day moving average price of $183.08 and a two-hundred day moving average price of $202.65. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The stock has a market capitalization of $27.47 billion, a PE ratio of 25.20, a price-to-earnings-growth 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 (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.33% and a return on equity of 58.31%. As a group, equities analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.21%. CDW’s dividend payout ratio is 30.56%.

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.