Smithfield Trust Co Sells 48 Shares of CDW Co. (NASDAQ:CDW)

Smithfield Trust Co decreased its holdings in shares of CDW Co. (NASDAQ:CDWFree Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,377 shares of the information technology services provider’s stock after selling 48 shares during the period. Smithfield Trust Co’s holdings in CDW were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CDW. Northern Trust Corp raised its stake in CDW by 1.6% in the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after buying an additional 20,345 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of CDW by 3.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after purchasing an additional 41,472 shares during the period. Barclays PLC boosted its position in shares of CDW by 2.1% during the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock valued at $205,014,000 after purchasing an additional 20,934 shares in the last quarter. American Century Companies Inc. grew its stake in CDW by 2.5% in the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after purchasing an additional 20,152 shares during the period. Finally, California Public Employees Retirement System raised its holdings in CDW by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock worth $186,878,000 after purchasing an additional 3,082 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays lowered their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus cut their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Citigroup decreased their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

View Our Latest Report on CDW

CDW Price Performance

NASDAQ:CDW traded down $0.51 during trading hours on Friday, hitting $222.46. 676,696 shares of the stock traded hands, compared to its average volume of 765,767. The company has a market cap of $29.90 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.20 and a beta of 1.09. CDW Co. has a 1 year low of $166.37 and a 1 year high of $263.37. The stock has a 50 day moving average price of $243.26 and a 200 day moving average price of $229.79. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDWGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW announced that its board has approved a share 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio is 30.96%.

CDW Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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