Dark Forest Capital Management LP Decreases Holdings in CDW Co. (NASDAQ:CDW)

Dark Forest Capital Management LP lessened its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 44.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,979 shares of the information technology services provider's stock after selling 1,615 shares during the period. Dark Forest Capital Management LP's holdings in CDW were worth $344,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP raised its holdings 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. OFI Invest Asset Management purchased a new stake in shares of CDW in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its holdings in shares of 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 during the last quarter. Canoe Financial LP lifted its holdings in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of CDW during the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CDW shares. JPMorgan Chase & Co. decreased their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Citigroup reduced their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. UBS Group decreased their target price 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 price target 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. Four investment 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 a consensus rating of "Moderate Buy" and an average price target of $217.38.

CDW Stock Up 1.1 %

Shares of CDW stock traded up $1.84 on Thursday, hitting $162.40. The stock had a trading volume of 1,440,819 shares, compared to its average volume of 1,184,193. 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 Co. has a one year low of $137.31 and a one year high of $241.26. The business has a 50 day moving average price of $162.26 and a 200 day moving average price of $180.09. The company has a market cap of $21.40 billion, a PE ratio of 20.38, a P/E/G ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last posted 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%. Research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase program 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.54%. CDW's dividend payout ratio is presently 31.37%.

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.