CDW Co. (NASDAQ:CDW) Shares Sold by Whittier Trust Co.

Whittier Trust Co. reduced its position in CDW Co. (NASDAQ:CDW) by 18.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the information technology services provider’s stock after selling 101 shares during the period. Whittier Trust Co.’s holdings in CDW were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CDW. Blueshift Asset Management LLC increased its holdings in CDW by 257.6% in the 4th quarter. Blueshift Asset Management LLC now owns 5,057 shares of the information technology services provider’s stock valued at $880,000 after purchasing an additional 3,643 shares in the last quarter. iA Global Asset Management Inc. grew its stake in shares of CDW by 10.3% in the fourth quarter. iA Global Asset Management Inc. now owns 15,024 shares of the information technology services provider’s stock valued at $2,615,000 after buying an additional 1,408 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of CDW during the 4th quarter valued at about $516,000. Harvest Fund Management Co. Ltd lifted its position in CDW by 27.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,843 shares of the information technology services provider’s stock worth $1,365,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in CDW by 1,080.2% in the 4th quarter. Intech Investment Management LLC now owns 115,307 shares of the information technology services provider’s stock worth $20,068,000 after acquiring an additional 105,537 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDW. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Trading Up 2.9 %

Shares of NASDAQ CDW opened at $170.31 on Tuesday. 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 stock’s 50 day moving average price is $184.19 and its two-hundred day moving average price is $192.73. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37. The stock has a market capitalization of $22.56 billion, a P/E ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 dividend yield of 1.47%. CDW’s payout ratio is currently 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.