Boston Partners Lowers Position in CDW Co. (NASDAQ:CDW)

Boston Partners lessened its stake in CDW Co. (NASDAQ:CDW) by 62.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 247,341 shares of the information technology services provider’s stock after selling 408,762 shares during the quarter. Boston Partners’ holdings in CDW were worth $43,084,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust raised its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP raised its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in CDW during the third quarter valued at $90,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.2 %

NASDAQ CDW opened at $172.84 on Thursday. The company’s 50-day moving average price is $185.01 and its 200-day moving average price is $193.96. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market cap of $22.90 billion, a PE ratio of 21.69, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results 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%. Equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target 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. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.