River Global Investors LLP Trims Stake in CDW Co. (NASDAQ:CDW)

River Global Investors LLP cut its stake in CDW Co. (NASDAQ:CDW) by 41.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,140 shares of the information technology services provider’s stock after selling 4,315 shares during the period. River Global Investors LLP’s holdings in CDW were worth $1,069,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Parkside Financial Bank & Trust grew its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the period. Ashton Thomas Securities LLC bought a new position in CDW in the third quarter worth $43,000. Canoe Financial LP lifted its position 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 buying an additional 112 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of CDW opened at $168.37 on Friday. The company has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a twelve month low of $164.98 and a twelve month high of $263.37. 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 50 day moving average of $186.37 and a 200 day moving average of $197.71.

CDW (NASDAQ:CDW) last posted its 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, equities research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has approved 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 a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDW. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price objective on 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 assigned a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus 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.