Curi RMB Capital LLC Cuts Stake in CDW Co. (NASDAQ:CDW)

Curi RMB Capital LLC lessened its stake in CDW Co. (NASDAQ:CDW) by 20.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,550 shares of the information technology services provider’s stock after selling 19,593 shares during the quarter. Curi RMB Capital LLC’s holdings in CDW were worth $13,323,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CDW. Vanguard Group Inc. increased its holdings in shares of CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after purchasing an additional 99,947 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock worth $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP raised its holdings in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after buying an additional 574,444 shares during the period. Invesco Ltd. lifted its position in CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after buying an additional 575,333 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW opened at $151.47 on Friday. The stock has a market capitalization of $19.96 billion, a PE ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. The company has a 50 day moving average price of $167.67 and a 200-day moving average price of $183.69. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CDW shares. Barclays lifted their price target 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. JPMorgan Chase & Co. cut their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup dropped their price objective on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley lifted 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. Finally, UBS Group lowered their price objective on shares of 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 four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.38.

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.