Acropolis Investment Management LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,606 shares of the information technology services provider’s stock after selling 62 shares during the period. Acropolis Investment Management LLC’s holdings in CDW were worth $823,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in CDW by 0.8% during the third quarter. Vanguard Group Inc. now owns 16,072,467 shares of the information technology services provider’s stock valued at $2,508,590,000 after acquiring an additional 120,738 shares during the period. State Street Corp grew its position in shares of CDW by 0.5% during the third quarter. State Street Corp now owns 5,128,543 shares of the information technology services provider’s stock valued at $800,463,000 after purchasing an additional 26,442 shares in the last quarter. FMR LLC grew its position in shares of CDW by 89.8% during the second quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock valued at $767,086,000 after purchasing an additional 2,303,669 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of CDW by 12.7% during the third quarter. Fiduciary Management Inc. WI now owns 1,675,953 shares of the information technology services provider’s stock valued at $261,583,000 after purchasing an additional 188,689 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of CDW by 5.5% during the second quarter. JPMorgan Chase & Co. now owns 1,427,776 shares of the information technology services provider’s stock valued at $224,962,000 after purchasing an additional 75,043 shares in the last quarter. 92.78% of the stock is owned by institutional investors.
CDW Stock Down 2.9 %
Shares of NASDAQ:CDW opened at $188.05 on Friday. CDW Co. has a 1 year low of $147.91 and a 1 year high of $215.00. The business has a 50 day simple moving average of $199.07 and a two-hundred day simple moving average of $182.86. The firm has a market capitalization of $25.50 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.33 and a quick ratio of 1.17.
CDW announced that its board has authorized a stock buyback plan on Wednesday, February 8th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, February 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. CDW’s dividend payout ratio (DPR) is presently 29.03%.
Insider Buying and Selling at CDW
In other CDW news, Director Donna F. Zarcone sold 4,703 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total transaction of $955,790.69. Following the completion of the transaction, the director now owns 18,058 shares in the company, valued at $3,669,927.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.
Analyst Ratings Changes
CDW has been the subject of a number of research analyst reports. Raymond James raised their price objective on CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. raised their price objective on CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, December 20th. Credit Suisse Group raised their price objective on CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Morgan Stanley lifted their price target on CDW from $217.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. Finally, StockNews.com assumed coverage on CDW in a research report on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.86.
CDW Company Profile
CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.
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