O Shaughnessy Asset Management LLC Lowers Stake in CDW Co. (NASDAQ:CDW)

O Shaughnessy Asset Management LLC decreased its position in CDW Co. (NASDAQ:CDW) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,506 shares of the information technology services provider’s stock after selling 3,322 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in CDW were worth $3,917,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after buying an additional 99,947 shares during the period. State Street Corp grew its position in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its stake in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after purchasing an additional 31,858 shares during the period. Janus Henderson Group PLC lifted its position in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CDW by 3.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider’s stock valued at $255,434,000 after purchasing an additional 50,805 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 1.5 %

Shares of NASDAQ CDW opened at $164.47 on Thursday. The business has a 50-day moving average of $180.64 and a two-hundred day moving average of $190.34. The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $158.76 and a 1 year high of $263.37. 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 (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. On average, analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDW shares. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW 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.