Flputnam Investment Management Co. Lowers Position in CDW Co. (NASDAQ:CDW)

Flputnam Investment Management Co. lessened its holdings in CDW Co. (NASDAQ:CDW) by 29.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,269 shares of the information technology services provider’s stock after selling 4,270 shares during the period. Flputnam Investment Management Co.’s holdings in CDW were worth $2,334,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Capital Analysts LLC raised its position in CDW by 21.2% during the fourth quarter. Capital Analysts LLC now owns 406 shares of the information technology services provider’s stock valued at $93,000 after purchasing an additional 71 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in shares of CDW by 2.6% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 5,095 shares of the information technology services provider’s stock worth $1,158,000 after buying an additional 130 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of CDW by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 348,384 shares of the information technology services provider’s stock worth $79,195,000 after buying an additional 26,529 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of CDW in the fourth quarter worth about $4,251,000. Finally, Simplicity Solutions LLC increased its holdings in shares of CDW by 2.3% in the fourth quarter. Simplicity Solutions LLC now owns 2,907 shares of the information technology services provider’s stock worth $661,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $240.01 on Wednesday. CDW Co. has a twelve month low of $160.66 and a twelve month high of $263.37. The firm has a market cap of $32.25 billion, a P/E ratio of 29.63, a PEG ratio of 2.74 and a beta of 1.09. The company has a 50 day moving average of $247.59 and a 200 day moving average of $226.92. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 EPS. As a group, research analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW announced that its board has authorized a share buyback 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s dividend payout ratio is presently 30.62%.

Analysts Set New Price Targets

CDW has been the topic of several analyst reports. Barclays lifted their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Citigroup raised their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.90.

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.