CDW Co. (NASDAQ:CDW) Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC decreased its holdings in CDW Co. (NASDAQ:CDW) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944 shares of the information technology services provider’s stock after selling 112 shares during the quarter. Level Four Advisory Services LLC’s holdings in CDW were worth $512,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CDW. Vanguard Group Inc. grew its stake in shares of CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. State Street Corp increased its stake in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after buying an additional 31,858 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CDW by 3.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock valued at $255,434,000 after buying an additional 50,805 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDW. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley lifted 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, UBS Group reduced 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Trading Down 0.8 %

Shares of NASDAQ:CDW opened at $160.26 on Tuesday. The company has a market capitalization of $21.23 billion, a PE ratio of 20.11, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $158.76 and a 12-month high of $263.37. The business has a 50 day moving average of $181.83 and a two-hundred day moving average of $190.93. 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 released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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, analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has authorized a stock buyback program 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 repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.56%. CDW’s dividend payout ratio is currently 31.37%.

About CDW

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.