Baird Financial Group Inc. Lowers Stock Position in CDW Co. (NASDAQ:CDW)

Baird Financial Group Inc. cut its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,339 shares of the information technology services provider's stock after selling 30,727 shares during the quarter. Baird Financial Group Inc. owned approximately 0.24% of CDW worth $54,882,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased 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 valued at $2,901,905,000 after purchasing an additional 99,947 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after buying an additional 54,341 shares during the last quarter. Wellington Management Group LLP increased its position in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after buying an additional 574,444 shares in the last quarter. Invesco Ltd. raised its stake in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after acquiring an additional 575,333 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

Shares of CDW opened at $166.83 on Monday. The firm has a market cap of $21.98 billion, a PE ratio of 20.93, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a fifty day simple moving average of $161.46 and a two-hundred day simple moving average of $178.72.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results 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 return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts anticipate 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 outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.50%. CDW's dividend payout ratio (DPR) is 31.37%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CDW. Citigroup lowered their price target on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group cut their price target 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. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.38.

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.

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