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Private Trust Co. NA reduced its holdings in CDW Co. (NASDAQ: CDW – Free Report ) by 3.1% during the fourth quarter, according to HoldingsChannel.com. The company owns 1,854 shares of the information technology services provider after selling 60 shares during the quarter. Private Trust Co. NA’s CDW holdings were valued at $421,000 as of its most recent SEC filing.
Many other hedge funds and other institutional investors also bought and sold shares of the company. Scotia Capital Inc. boosted its holdings in shares of CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s shares valued at $705,000, after acquiring an additional 50 shares during the period. Diversified Trust Co increased its holdings of CDW shares by 4.6% in the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after purchasing an additional 51 shares during the last quarter. Phoenix Holdings Ltd. boosted its holdings in shares of CDW by 4.3% in the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 52 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of CDW by 1.1% in the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s shares valued at $991,000, after purchasing an additional 54 shares during the period. Finally, TFC Financial Management Inc. increased its holdings in shares of CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000, after purchasing an additional 55 shares during the period. Institutional investors hold 93.15% of the company’s shares.
Analyst upgrades and downgrades
Several research firms have recently commented on CDW. Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Citigroup increased their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays raised their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. J.P. Morgan raised their target price on shares of CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley downgraded CDW stock from an “overweight” rating to an “equal weight” rating and set a target price of $216.00 for the stock. in a research note on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.60, according to MarketBeat.
Get our latest stock report on CDW
CDW trades up 1.0%
CDW stock opened Friday at $255.19. The company has a quick ratio of 1.11, a current ratio of 1.23, and a debt-to-equity ratio of 2.46. The company has a market capitalization of $34.25 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.86, and a beta of 1.09. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The business has a 50-day moving average price of $245.23 and a 200-day moving average price of $224.64.
CDW (NASDAQ: CDW – Get Free Report ) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW’s net profit margin is 5.17% and its return on equity is 73.93%. The company’s revenue for the quarter was $5.02 billion, compared with analysts’ expectations of $5.32 billion. In the same period last year, the company earned $2.40 per share. The company’s revenue for the quarter fell 7.7% compared with the same period last year. Equities research analysts expect that CDW Co. will post 9.88 earnings per share for the current fiscal year.
CDW announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. This represents an annualized dividend of $2.48 and a yield of 0.97%. The ex-dividend date is Friday, February 23rd. CDW’s dividend payout ratio (DPR) currently stands at 30.62%.
CDW announced that its board of directors approved a stock repurchase program on Wednesday, February 7, authorizing the company to repurchase $750 million of outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 2.4% of its shares through open market purchases. A stock buyback program usually indicates that the company’s board of directors believes its stock is undervalued.
Introduction to CDW
(free report)
CDW Corporation provides information technology (IT) solutions in the United States, United Kingdom and Canada. It operates through three sectors: the corporate sector, the small business sector and the public sector. The company provides discrete hardware and software products and services, as well as integrated IT solutions, including on-premises and cloud capabilities across hybrid infrastructure, digital experiences and security.
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Want to see what other hedge funds hold CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for CDW Co. (NASDAQ: CDW – Free Report).
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