CDW Co. (NASDAQ:CDW) Stake Trimmed by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its stake in CDW Co. (NASDAQ:CDW) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,269 shares of the information technology services provider’s stock after selling 4,270 shares during the quarter. Flputnam Investment Management Co.’s holdings in CDW were worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Scotia Capital Inc. boosted its position in CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 50 shares during the period. Diversified Trust Co lifted its holdings in shares of CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 51 shares during the last quarter. Phoenix Holdings Ltd. lifted its holdings in shares of CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 52 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of CDW by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after buying an additional 54 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $240.01 on Wednesday. The stock’s fifty day moving average is $247.59 and its 200-day moving average is $226.92. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The stock has a market capitalization of $32.25 billion, a PE ratio of 29.63, a PEG ratio of 2.74 and a beta of 1.09. CDW Co. has a 52 week low of $160.66 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.40 earnings per share. Equities research analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW declared that its board has authorized a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDW shares. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup lifted their price target on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.90.

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.