OLD National Bancorp IN Has $360,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

OLD National Bancorp IN cut its position in CDW Co. (NASDAQ:CDW) by 57.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585 shares of the information technology services provider’s stock after selling 2,137 shares during the period. OLD National Bancorp IN’s holdings in CDW were worth $360,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Scotia Capital Inc. boosted its stake in CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after purchasing an additional 50 shares during the last quarter. Diversified Trust Co boosted its stake in CDW by 4.6% during the 4th 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 stake in CDW by 4.3% during the 3rd 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. Fidelis Capital Partners LLC boosted its stake in CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in CDW by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after purchasing an additional 54 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 0.1 %

NASDAQ:CDW opened at $240.69 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $32.34 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.69 and a beta of 1.09. The firm’s 50 day moving average is $247.19 and its 200 day moving average is $228.12. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37.

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

CDW Dividend Announcement

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

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

Analysts Set New Price Targets

A number of research firms have issued reports on CDW. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup lifted their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Barclays lifted their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.