US Bancorp DE Sells 7,436 Shares of CDW Co. (NASDAQ:CDW)

US Bancorp DE lowered its stake in CDW Co. (NASDAQ:CDW) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,660 shares of the information technology services provider’s stock after selling 7,436 shares during the quarter. US Bancorp DE’s holdings in CDW were worth $4,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP raised its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the period. Summit Trail Advisors LLC raised its stake in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares during the period. OneAscent Wealth Management LLC grew its position in shares of CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Finally, Fulcrum Equity Management grew its position in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CDW. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Finally, UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ CDW opened at $172.59 on Thursday. The stock has a market capitalization of $22.87 billion, a PE ratio of 21.65, a P/E/G ratio of 3.21 and a beta of 1.01. The business has a 50 day simple moving average of $186.64 and a two-hundred day simple moving average of $198.10. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. On average, research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its board has initiated a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.