CANADA LIFE ASSURANCE Co Cuts Holdings in CDW Co. (NASDAQ:CDW)

CANADA LIFE ASSURANCE Co lessened its stake in CDW Co. (NASDAQ:CDW) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 155,547 shares of the information technology services provider’s stock after selling 10,772 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in CDW were worth $27,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Canada Pension Plan Investment Board grew its stake in shares of CDW by 30.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 156,449 shares of the information technology services provider’s stock worth $27,228,000 after purchasing an additional 36,656 shares in the last quarter. Advisory Research Inc. lifted its holdings in CDW by 17.2% during the 4th quarter. Advisory Research Inc. now owns 10,984 shares of the information technology services provider’s stock worth $1,912,000 after buying an additional 1,610 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of CDW during the 4th quarter worth about $41,651,000. United Capital Financial Advisors LLC increased its holdings in shares of CDW by 6.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 3,139 shares of the information technology services provider’s stock valued at $546,000 after acquiring an additional 203 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of CDW by 2,521.7% during the 4th quarter. Jump Financial LLC now owns 94,668 shares of the information technology services provider’s stock worth $16,476,000 after acquiring an additional 91,057 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CDW shares. Citigroup lowered their price target on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.38.

CDW Stock Performance

Shares of CDW stock opened at $151.47 on Friday. CDW Co. has a 52-week low of $137.31 and a 52-week high of $248.12. The stock’s 50-day moving average price is $167.67 and its 200 day moving average price is $183.44. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $19.96 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) last released its 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%. As a group, equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has initiated a share 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.