Flputnam Investment Management Co. Sells 564 Shares of CDW Co. (NASDAQ:CDW)

Flputnam Investment Management Co. lessened its stake in CDW Co. (NASDAQ:CDW) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,498 shares of the information technology services provider’s stock after selling 564 shares during the period. Flputnam Investment Management Co.’s holdings in CDW were worth $783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Advisor Group LLC increased its holdings in CDW by 10.7% during the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock valued at $839,000 after purchasing an additional 359 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in CDW by 7.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock valued at $1,509,000 after purchasing an additional 451 shares during the period. Princeton Global Asset Management LLC increased its holdings in CDW by 2.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 13,245 shares of the information technology services provider’s stock valued at $2,997,000 after purchasing an additional 379 shares during the period. Van ECK Associates Corp increased its holdings in CDW by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,619 shares of the information technology services provider’s stock valued at $5,358,000 after purchasing an additional 2,441 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in CDW during the 3rd quarter valued at about $543,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDW. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays boosted their price target 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 began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Down 0.4 %

CDW stock opened at $178.20 on Monday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The business’s 50 day moving average price is $186.80 and its two-hundred day moving average price is $198.81. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a market capitalization of $23.61 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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

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 given a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its board has initiated a stock repurchase plan 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.