Advisors Asset Management Inc. Has $2.67 Million Stock Position in CDW Co. (NASDAQ:CDW)

Advisors Asset Management Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,337 shares of the information technology services provider’s stock after selling 1,045 shares during the quarter. Advisors Asset Management Inc.’s holdings in CDW were worth $2,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC increased its holdings in CDW by 8.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 24,712 shares of the information technology services provider’s stock worth $5,592,000 after purchasing an additional 2,000 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in CDW in the third quarter worth approximately $416,111,000. Charles Schwab Investment Management Inc. increased its holdings in shares of CDW by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after acquiring an additional 7,764 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of CDW by 4.0% during the third quarter. Raymond James Trust N.A. now owns 2,197 shares of the information technology services provider’s stock valued at $497,000 after acquiring an additional 85 shares in the last quarter. Finally, Studio Investment Management LLC increased its holdings in shares of CDW by 4.3% during the third quarter. Studio Investment Management LLC now owns 1,951 shares of the information technology services provider’s stock valued at $442,000 after acquiring an additional 81 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 1.5 %

CDW stock opened at $165.57 on Friday. The stock’s fifty day simple moving average is $184.40 and its two-hundred day simple moving average is $193.36. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37. The stock has a market cap of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 annualized dividend and a yield of 1.51%. CDW’s dividend payout ratio is currently 31.37%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDW shares. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.