PGGM Investments Sells 486 Shares of CDW Co. (NASDAQ:CDW)

PGGM Investments decreased its holdings in CDW Co. (NASDAQ:CDW) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,773 shares of the information technology services provider’s stock after selling 486 shares during the quarter. PGGM Investments’ holdings in CDW were worth $8,587,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in shares of CDW in the 4th quarter worth approximately $720,000. Alliance Wealth Advisors LLC UT boosted its stake in shares of CDW by 5.2% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,814 shares of the information technology services provider’s stock worth $640,000 after buying an additional 139 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of CDW by 35.9% in the 4th quarter. Russell Investments Group Ltd. now owns 60,057 shares of the information technology services provider’s stock worth $13,678,000 after buying an additional 15,856 shares during the last quarter. Delta Investment Management LLC boosted its stake in shares of CDW by 50.0% in the 4th quarter. Delta Investment Management LLC now owns 3,495 shares of the information technology services provider’s stock worth $795,000 after buying an additional 1,165 shares during the last quarter. Finally, Community Bank N.A. purchased a new position in shares of CDW in the 4th quarter worth approximately $202,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CDW. JPMorgan Chase & Co. upped their price objective on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Barclays upped their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, Citigroup upped their price objective on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Performance

CDW stock traded down $1.16 during midday trading on Friday, reaching $242.26. 424,550 shares of the company’s stock traded hands, compared to its average volume of 592,743. The company has a 50-day moving average price of $247.25 and a two-hundred day moving average price of $228.55. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a 52 week low of $162.59 and a 52 week high of $263.37. The firm has a market capitalization of $32.55 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. CDW’s payout ratio is currently 30.62%.

CDW declared that its board has authorized a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.