CDW Co. (NASDAQ:CDW) Shares Sold by NZS Capital LLC

NZS Capital LLC decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 47.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,573 shares of the information technology services provider's stock after selling 42,998 shares during the period. NZS Capital LLC's holdings in CDW were worth $8,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CDW. Quarry LP purchased a new stake in CDW during the 4th quarter worth about $48,000. Berger Financial Group Inc grew its holdings in shares of CDW by 2.8% during the fourth quarter. Berger Financial Group Inc now owns 22,793 shares of the information technology services provider's stock worth $3,967,000 after buying an additional 615 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $5,916,000. Coldstream Capital Management Inc. lifted its stake in shares of CDW by 11.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider's stock valued at $309,000 after buying an additional 184 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in CDW during the fourth quarter worth approximately $1,511,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 2.8 %

Shares of CDW traded up $4.50 during midday trading on Friday, reaching $166.90. 909,697 shares of the company were exchanged, compared to its average volume of 1,178,401. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The stock has a 50-day moving average price of $161.77 and a 200-day moving average price of $179.67. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. Research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has approved a stock buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDW shares. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Citigroup dropped their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.