American Century Companies Inc. Sells 543,541 Shares of CDW Co. (NASDAQ:CDW)

American Century Companies Inc. trimmed its holdings in CDW Co. (NASDAQ:CDW) by 55.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 445,256 shares of the information technology services provider’s stock after selling 543,541 shares during the quarter. American Century Companies Inc. owned approximately 0.33% of CDW worth $77,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management purchased a new position in CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust lifted its holdings in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Canoe Financial LP lifted its holdings in CDW by 68.3% during the 4th 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 in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in CDW in the 4th quarter valued at about $69,000. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 2.9 %

CDW opened at $170.31 on Tuesday. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a fifty day moving average price of $184.19 and a 200-day moving average price of $192.73. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last announced 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW announced that its Board of Directors has approved a stock 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CDW shares. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays raised their price target on 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.