National Pension Service Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

National Pension Service trimmed its position in CDW Co. (NASDAQ:CDW) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,240 shares of the information technology services provider’s stock after selling 2,301 shares during the quarter. National Pension Service owned 0.15% of CDW worth $35,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in CDW in the third quarter valued at $1,629,000. Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. boosted its holdings in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Graphene Investments SAS boosted its holdings in CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Czech National Bank boosted its holdings in CDW by 6.2% in the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after acquiring an additional 1,685 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the topic of several recent analyst reports. Morgan Stanley lifted 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. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Price Performance

CDW opened at $178.20 on Friday. The stock has a 50-day moving average price of $186.73 and a 200-day moving average price of $199.29. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a market cap of $23.61 billion, a PE ratio of 22.36, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

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, 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%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has approved a stock buyback 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 generally a sign that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

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.