Royal London Asset Management Ltd. Has $42.26 Million Stake in CDW Co. (NASDAQ:CDW)

Royal London Asset Management Ltd. trimmed its stake in CDW Co. (NASDAQ:CDW) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 242,806 shares of the information technology services provider’s stock after selling 37,957 shares during the period. Royal London Asset Management Ltd.’s holdings in CDW were worth $42,258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its holdings in CDW by 27.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,843 shares of the information technology services provider’s stock worth $1,365,000 after acquiring an additional 1,690 shares during the period. Intech Investment Management LLC grew its holdings in CDW by 1,080.2% during the 4th quarter. Intech Investment Management LLC now owns 115,307 shares of the information technology services provider’s stock worth $20,068,000 after acquiring an additional 105,537 shares during the period. Thrivent Financial for Lutherans grew its holdings in CDW by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 610,948 shares of the information technology services provider’s stock worth $106,356,000 after acquiring an additional 11,048 shares during the period. PDS Planning Inc grew its holdings in CDW by 18.9% during the 4th quarter. PDS Planning Inc now owns 1,410 shares of the information technology services provider’s stock worth $245,000 after acquiring an additional 224 shares during the period. Finally, Signaturefd LLC grew its holdings in CDW by 2.7% during the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after acquiring an additional 72 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CDW shares. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

Shares of CDW stock opened at $168.09 on Friday. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a one year low of $162.84 and a one year high of $263.37. The business has a 50-day simple moving average of $184.75 and a 200 day simple moving average of $193.78.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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, research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.49%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.