Todd Asset Management LLC Sells 11,518 Shares of CDW Co. (NASDAQ:CDW)

Todd Asset Management LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,315 shares of the information technology services provider’s stock after selling 11,518 shares during the quarter. Todd Asset Management LLC owned about 0.09% of CDW worth $21,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Allspring Global Investments Holdings LLC grew its stake in shares of CDW by 184.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock valued at $4,854,000 after buying an additional 13,902 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of CDW by 10.7% during the third quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares during the period. Lake Street Advisors Group LLC acquired a new stake in shares of CDW during the third quarter worth $204,000. Mirae Asset Global Investments Co. Ltd. raised its stake in CDW by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,673 shares of the information technology services provider’s stock worth $7,176,000 after purchasing an additional 5,835 shares in the last quarter. Finally, Forsta AP Fonden raised its position in shares of CDW by 6.4% in the third quarter. Forsta AP Fonden now owns 44,800 shares of the information technology services provider’s stock valued at $10,138,000 after buying an additional 2,700 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDW has been the topic of a number of research analyst reports. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Trading Up 0.1 %

Shares of CDW stock opened at $186.69 on Tuesday. The stock has a market capitalization of $24.88 billion, a P/E ratio of 23.42, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock’s 50-day simple moving average is $186.32 and its 200 day simple moving average is $199.79.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. CDW’s dividend payout ratio is presently 31.37%.

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.