Gulf International Bank UK Ltd Sells 115 Shares of CDW Co. (NASDAQ:CDW)

Gulf International Bank UK Ltd trimmed its holdings in CDW Co. (NASDAQ:CDW) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,536 shares of the information technology services provider’s stock after selling 115 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CDW were worth $1,833,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA bought a new stake in CDW in the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC grew its stake in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP bought a new stake in shares of CDW during the 3rd quarter valued at about $172,217,000. Assenagon Asset Management S.A. grew its stake in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Finally, Unigestion Holding SA grew its stake in shares of CDW by 917.4% during the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.4 %

CDW stock opened at $178.20 on Friday. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. 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 cap of $23.61 billion, a P/E ratio of 22.36, a PEG ratio of 3.21 and a beta of 1.01. The business’s 50-day moving average price is $186.80 and its 200-day moving average price is $198.94.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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%. On average, equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has approved a share buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s dividend payout ratio is presently 31.37%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CDW shares. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.