Commerce Bank Lowers Holdings in CDW Co. (NASDAQ:CDW)

Commerce Bank reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 16.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,604 shares of the information technology services provider’s stock after selling 7,113 shares during the period. Commerce Bank’s holdings in CDW were worth $6,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in 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 valued at $27,228,000 after buying an additional 36,656 shares during the last quarter. Advisory Research Inc. grew its holdings in shares of CDW by 17.2% in the fourth quarter. Advisory Research Inc. now owns 10,984 shares of the information technology services provider’s stock valued at $1,912,000 after purchasing an additional 1,610 shares in the last quarter. Marshall Wace LLP bought a new stake in CDW in the fourth quarter worth $41,651,000. United Capital Financial Advisors LLC raised its stake in CDW by 6.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 3,139 shares of the information technology services provider’s stock valued at $546,000 after purchasing an additional 203 shares in the last quarter. Finally, Jump Financial LLC lifted its position in CDW by 2,521.7% during the fourth quarter. Jump Financial LLC now owns 94,668 shares of the information technology services provider’s stock valued at $16,476,000 after purchasing an additional 91,057 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.8 %

NASDAQ CDW opened at $151.47 on Friday. The company’s 50-day simple moving average is $167.67 and its two-hundred day simple moving average is $183.44. CDW Co. has a one year low of $137.31 and a one year high of $248.12. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. 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 (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS 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%. Equities analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research reports. Citigroup reduced their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. 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. Finally, Barclays raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $217.38.

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.