QRG Capital Management Inc. Lowers Stake in CDW Co. (NASDAQ:CDW)

QRG Capital Management Inc. lessened its holdings in CDW Co. (NASDAQ:CDW) by 21.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,017 shares of the information technology services provider’s stock after selling 5,998 shares during the quarter. QRG Capital Management Inc.’s holdings in CDW were worth $3,832,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Private Advisor Group LLC raised its position in CDW by 10.7% during the third quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after acquiring an additional 359 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of CDW by 7.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after purchasing an additional 451 shares in the last quarter. abrdn plc raised its position in shares of CDW by 31.4% during the 3rd quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock worth $12,409,000 after purchasing an additional 13,079 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in CDW by 22.7% in the 3rd quarter. Ceredex Value Advisors LLC now owns 436,034 shares of the information technology services provider’s stock valued at $98,674,000 after buying an additional 80,650 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in CDW by 2.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 13,245 shares of the information technology services provider’s stock worth $2,997,000 after buying an additional 379 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 0.4 %

NASDAQ CDW opened at $178.20 on Friday. The business’s fifty day simple moving average is $186.80 and its 200-day simple moving average is $198.94. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $23.61 billion, a PE ratio of 22.36, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

A number of brokerages have commented on CDW. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. 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 research note on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Company 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.