Cantillon Capital Management LLC Reduces Holdings in CDW Co. (NASDAQ:CDW)

Cantillon Capital Management LLC cut its position in CDW Co. (NASDAQ:CDW - Free Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,415,042 shares of the information technology services provider's stock after selling 34,315 shares during the quarter. CDW accounts for 2.1% of Cantillon Capital Management LLC's portfolio, making the stock its 24th largest position. Cantillon Capital Management LLC owned 1.06% of CDW worth $321,667,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in CDW during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in shares of CDW in the fourth quarter worth $30,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the third quarter valued at $28,000. ORG Partners LLC bought a new position in CDW during the 4th quarter valued at $36,000. Finally, Oakworth Capital Inc. acquired a new position in CDW during the 4th quarter worth $36,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock traded down $0.51 during trading on Friday, hitting $222.46. 676,696 shares of the stock were exchanged, compared to its average volume of 722,012. The stock has a market cap of $29.90 billion, a PE ratio of 27.77, a P/E/G ratio of 3.16 and a beta of 1.09. The stock's fifty day moving average is $243.76 and its 200 day moving average is $229.63. CDW Co. has a 12 month low of $166.37 and a 12 month high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. CDW's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.40 EPS. As a group, sell-side analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW declared that its board has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. CDW's payout ratio is 30.96%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CDW shares. Citigroup reduced their price target on shares of CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Barclays dropped their price target on CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus dropped their target price on shares of CDW from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $247.50.

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.

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