SVB Wealth LLC Has $13.27 Million Stock Position in CDW Co. (NASDAQ:CDW)

SVB Wealth LLC trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,386 shares of the information technology services provider's stock after selling 17,571 shares during the period. SVB Wealth LLC's holdings in CDW were worth $13,272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Vanguard Group Inc. raised its stake in CDW by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider's stock valued at $2,812,692,000 after buying an additional 196,216 shares in the last quarter. State Street Corp lifted its stake in CDW by 3.0% during the first quarter. State Street Corp now owns 5,281,252 shares of the information technology services provider's stock worth $1,029,263,000 after purchasing an additional 156,066 shares during the last quarter. Geode Capital Management LLC lifted its stake in CDW by 2.3% during the first quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider's stock worth $560,247,000 after purchasing an additional 63,457 shares during the last quarter. Morgan Stanley boosted its holdings in CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider's stock worth $436,146,000 after purchasing an additional 1,383,869 shares during the period. Finally, Northern Trust Corp increased its stake in CDW by 1.6% during the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider's stock valued at $268,568,000 after purchasing an additional 20,345 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Barclays lifted their target price on CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a research note on Thursday, February 8th. Citigroup increased their price target on CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on CDW from $267.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $238.90.

CDW Stock Performance

CDW stock traded down $1.37 during trading on Tuesday, reaching $240.01. 651,700 shares of the company's stock were exchanged, compared to its average volume of 706,331. CDW Co. has a 1-year low of $160.66 and a 1-year high of $263.37. The firm has a market cap of $32.25 billion, a PE ratio of 29.63, a P/E/G ratio of 2.75 and a beta of 1.09. The company's fifty day moving average price is $247.59 and its 200-day moving average price is $226.92. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company's revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 earnings per share. On average, research analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's dividend payout ratio (DPR) is presently 30.62%.

CDW announced that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors 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.