Williams Jones Wealth Management LLC. trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,231 shares of the information technology services provider's stock after selling 3,000 shares during the period. Williams Jones Wealth Management LLC.'s holdings in CDW were worth $1,084,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CDW. Vanguard Group Inc. boosted its stake in CDW by 0.6% in 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 acquiring an additional 99,947 shares during the last quarter. Geode Capital Management LLC boosted its stake in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP boosted its holdings in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. raised its position in shares of CDW by 27.6% in 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 purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Institutional investors own 93.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CDW. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $216.38.
View Our Latest Research Report on CDW
Insider Buying and Selling
In other CDW news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now directly owns 144,931 shares of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.
CDW Trading Down 0.7%
Shares of NASDAQ CDW traded down $1.22 during midday trading on Friday, hitting $182.16. The company's stock had a trading volume of 1,359,784 shares, compared to its average volume of 1,220,049. The firm has a market cap of $23.99 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The business's 50 day moving average is $164.88 and its two-hundred day moving average is $176.47. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26.
CDW (NASDAQ:CDW - Get Free Report) last posted 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. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.92 EPS. As a group, equities research analysts expect that CDW Co. will post 9.41 EPS for the current year.
CDW Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.
CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.
CDW Company Profile
(
Free Report)
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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