Bamco Inc. NY Sells 118,891 Shares of CDW Co. (NASDAQ:CDW)

Bamco Inc. NY decreased its position in CDW Co. (NASDAQ:CDW - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,341 shares of the information technology services provider's stock after selling 118,891 shares during the quarter. Bamco Inc. NY owned 0.21% of CDW worth $48,442,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. BLI Banque de Luxembourg Investments acquired a new stake in CDW in the 4th quarter valued at about $12,740,000. BNP Paribas Financial Markets lifted its position in CDW by 29.9% during the fourth quarter. BNP Paribas Financial Markets now owns 314,097 shares of the information technology services provider's stock worth $54,665,000 after purchasing an additional 72,316 shares during the period. Alyeska Investment Group L.P. increased its stake in CDW by 17,349.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after acquiring an additional 1,372,874 shares during the last quarter. AXA S.A. raised its holdings in shares of CDW by 13.4% during the 4th quarter. AXA S.A. now owns 46,519 shares of the information technology services provider's stock worth $8,096,000 after buying an additional 5,503 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of CDW by 2,812.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,753 shares of the information technology services provider's stock worth $4,830,000 after acquiring an additional 26,800 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $1.15 during midday trading on Friday, reaching $178.94. 1,101,293 shares of the company traded hands, compared to its average volume of 1,198,390. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm's fifty day moving average price is $160.97 and its two-hundred day moving average price is $177.96.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the company posted $1.92 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, May 23rd. CDW's payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on CDW. 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. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Barclays reduced their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus target price of $216.38.

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.