Rhumbline Advisers Sells 8,008 Shares of CDW Co. (NASDAQ:CDW)

Rhumbline Advisers reduced its position in shares of CDW Co. (NASDAQ:CDW) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 257,490 shares of the information technology services provider’s stock after selling 8,008 shares during the quarter. Rhumbline Advisers owned 0.19% of CDW worth $44,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after purchasing an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in 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 valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC lifted its holdings in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 1.0 %

CDW stock opened at $189.39 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The firm’s fifty day simple moving average is $185.05 and its two-hundred day simple moving average is $200.45.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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, analysts anticipate that CDW Co. will post 9.35 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

CDW 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.