Natixis Cuts Stock Position in CDW Co. (NASDAQ:CDW)

Natixis lowered its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 83.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,594 shares of the information technology services provider's stock after selling 43,057 shares during the period. Natixis' holdings in CDW were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares during the period. OFI Invest Asset Management acquired a new position in shares of CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust boosted its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP increased its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 112 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of CDW during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Down 0.2 %

Shares of NASDAQ CDW traded down $0.26 on Monday, reaching $157.70. 239,679 shares of the company traded hands, compared to its average volume of 1,178,171. The stock has a market capitalization of $20.78 billion, a PE ratio of 19.79, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a 50 day moving average of $164.15 and a 200 day moving average of $180.81. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. 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 (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CDW shares. Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group lowered 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 boosted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $217.38.

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.