BI Asset Management Fondsmaeglerselskab A S Has $490,000 Holdings in CDW Co. (NASDAQ:CDW)

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,155 shares of the information technology services provider’s stock after selling 233 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in CDW were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CDW. Prestige Wealth Management Group LLC boosted its position in shares of CDW by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after acquiring an additional 49 shares during the period. Scotia Capital Inc. grew its position in shares of CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of CDW by 3.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,502 shares of the information technology services provider’s stock worth $341,000 after purchasing an additional 50 shares during the period. Diversified Trust Co raised its position in shares of CDW by 4.6% in the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 51 shares in the last quarter. Finally, Phoenix Holdings Ltd. boosted its stake in shares of CDW by 4.3% in the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 52 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. Barclays lowered their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI upped their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

CDW Stock Down 2.0 %

Shares of NASDAQ:CDW opened at $231.57 on Friday. The firm has a market cap of $31.12 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.48 and a beta of 1.09. CDW Co. has a 12-month low of $167.57 and a 12-month high of $263.37. The business has a fifty day simple moving average of $239.52 and a 200 day simple moving average of $231.41. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.15). The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Analysts predict that CDW Co. will post 9.67 earnings per share for the current year.

CDW announced that its board has authorized a stock buyback program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be given a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW Company 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.