Voya Investment Management LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Voya Investment Management LLC decreased its position in CDW Co. (NASDAQ:CDW - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,233 shares of the information technology services provider's stock after selling 4,368 shares during the quarter. Voya Investment Management LLC's holdings in CDW were worth $10,483,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CDW. Allworth Financial LP increased its stake in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the period. Summit Trail Advisors LLC grew its position in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after purchasing an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Fulcrum Equity Management boosted its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 60 shares during the period. Finally, Jacobi Capital Management LLC grew its holdings in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after acquiring an additional 61 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDW. JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Citigroup lowered their target price on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.38.

CDW Trading Up 1.1 %

CDW stock traded up $1.84 during mid-day trading on Thursday, hitting $162.40. 1,440,819 shares of the stock were exchanged, compared to its average volume of 1,179,242. The stock has a market capitalization of $21.40 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The firm's fifty day simple moving average is $161.77 and its two-hundred day simple moving average is $179.67. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 return on equity of 55.42% and a net margin of 5.13%. Analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its Board of Directors has authorized 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.