Korea Investment CORP Sells 13,604 Shares of CDW Co. (NASDAQ:CDW)

Korea Investment CORP decreased its holdings in CDW Co. (NASDAQ:CDW) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,497 shares of the information technology services provider’s stock after selling 13,604 shares during the quarter. Korea Investment CORP’s holdings in CDW were worth $7,918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its stake 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 valued at $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in CDW during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust increased its position 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 valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP raised its stake in shares of CDW by 68.3% in the fourth 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 during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $160.26 on Tuesday. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 3.21 and a beta of 1.01. The firm’s 50 day simple moving average is $181.83 and its 200 day simple moving average is $190.93. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a fifty-two week low of $158.76 and a fifty-two week high of $263.37.

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, 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%. As a group, sell-side analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has approved a share 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.56%. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of research reports. Morgan Stanley raised their price target 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. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays raised their price objective 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.