Commerce Bank Has $6.20 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Commerce Bank decreased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 16.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,604 shares of the information technology services provider's stock after selling 7,113 shares during the quarter. Commerce Bank's holdings in CDW were worth $6,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC boosted its position in shares of CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock worth $261,779,000 after buying an additional 3,424 shares during the period. Fulcrum Equity Management boosted its position in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after acquiring an additional 60 shares during the period. Pine Valley Investments Ltd Liability Co grew its stake in CDW by 18.6% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider's stock valued at $572,000 after acquiring an additional 397 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of CDW by 5.0% in the third quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider's stock worth $1,260,000 after purchasing an additional 265 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of CDW during the third quarter worth approximately $973,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. 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 research report on Thursday, April 17th. Barclays increased their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, Citigroup decreased their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Stock Performance

CDW stock traded down $1.47 during trading on Friday, reaching $157.47. 305,861 shares of the stock were exchanged, compared to its average volume of 1,174,350. 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 stock has a 50 day simple moving average of $164.84 and a 200-day simple moving average of $181.85. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The company has a market capitalization of $20.75 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid 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 1.59%. CDW's dividend payout ratio (DPR) 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.