CDW Co. (NASDAQ:CDW) Position Cut by Fiduciary Trust Co

Fiduciary Trust Co lowered its position in shares of CDW Co. (NASDAQ:CDW) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,715 shares of the information technology services provider’s stock after selling 159 shares during the period. Fiduciary Trust Co’s holdings in CDW were worth $647,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CDW. Barclays PLC boosted its stake in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares during the period. Nordea Investment Management AB raised its holdings in shares of CDW by 3.6% during the fourth quarter. Nordea Investment Management AB now owns 11,260 shares of the information technology services provider’s stock valued at $1,967,000 after buying an additional 395 shares during the last quarter. Czech National Bank boosted its position in shares of CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after buying an additional 1,685 shares during the period. Trust Co. of Toledo NA OH grew its holdings in CDW by 9.1% in the 4th quarter. Trust Co. of Toledo NA OH now owns 1,787 shares of the information technology services provider’s stock worth $311,000 after buying an additional 149 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $178.94 on Monday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. 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 capitalization of $23.56 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91. The firm has a 50-day moving average of $161.13 and a two-hundred day moving average of $177.13.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the company earned $1.92 EPS. CDW’s revenue was up 6.7% on a year-over-year basis. As a group, analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s payout ratio is 30.98%.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding 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 programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Citigroup raised their target price on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays lowered their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.38.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by corporate insiders.

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.