Cornerstone Investment Partners LLC Has $31.47 Million Position in CDW Co. (NASDAQ:CDW)

Cornerstone Investment Partners LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,437 shares of the information technology services provider’s stock after selling 925 shares during the quarter. CDW makes up approximately 1.8% of Cornerstone Investment Partners LLC’s holdings, making the stock its 28th largest holding. Cornerstone Investment Partners LLC owned about 0.10% of CDW worth $31,469,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in shares of CDW by 16.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after buying an additional 6,799 shares during the period. Cerity Partners LLC raised its position in shares of CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after acquiring an additional 4,511 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after purchasing an additional 7,310 shares during the period. JGP Wealth Management LLC bought a new position in shares of CDW in the 4th quarter worth $1,559,000. Finally, California Public Employees Retirement System grew its stake in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price 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 increased their price target on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Citigroup boosted their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Stock Down 0.2 %

Shares of CDW stock traded down $0.41 during trading hours on Friday, hitting $235.29. 172,627 shares of the company were exchanged, compared to its average volume of 698,237. The business has a 50 day moving average of $247.41 and a two-hundred day moving average of $227.05. The company has a market capitalization of $31.62 billion, a PE ratio of 29.10, a PEG ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a 52 week low of $161.53 and a 52 week high of $263.37.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is presently 30.62%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication 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.