Flputnam Investment Management Co. Decreases Stake in CDW Co. (NASDAQ:CDW)

Flputnam Investment Management Co. decreased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,269 shares of the information technology services provider's stock after selling 4,270 shares during the period. Flputnam Investment Management Co.'s holdings in CDW were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its position in CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider's stock valued at $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Pacer Advisors Inc. increased its position in CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider's stock valued at $3,620,000 after buying an additional 7,310 shares in the last quarter. JGP Wealth Management LLC purchased a new stake in CDW in the fourth quarter valued at about $1,559,000. California Public Employees Retirement System boosted its holdings in CDW by 1.0% in the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider's stock worth $165,244,000 after acquiring an additional 7,854 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of CDW by 22.0% during the third quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider's stock worth $9,034,000 after acquiring an additional 8,063 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW traded down $3.23 during trading hours on Wednesday, hitting $236.78. The stock had a trading volume of 956,509 shares, compared to its average volume of 709,712. The firm has a 50-day moving average price of $247.57 and a 200 day moving average price of $226.99. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23.

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, topping analysts' consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The company's revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's dividend payout ratio (DPR) is presently 30.62%.

CDW declared that its board has authorized a share buyback program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

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

About CDW

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.