Achmea Investment Management B.V. Trims Holdings in CDW Co. (NASDAQ:CDW)

Achmea Investment Management B.V. decreased its position in CDW Co. (NASDAQ:CDW) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,456 shares of the information technology services provider’s stock after selling 1,452 shares during the period. Achmea Investment Management B.V.’s holdings in CDW were worth $1,124,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new stake in CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP increased its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in CDW in the 3rd quarter worth approximately $90,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of several analyst reports. Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Trading Up 2.1 %

CDW stock opened at $167.00 on Friday. The firm has a fifty day moving average price of $185.56 and a 200 day moving average price of $195.07. CDW Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37. 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 firm has a market cap of $22.13 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. CDW’s dividend payout ratio is presently 31.37%.

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

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.