Private Trust Co. NA Has $220,000 Stake in CDW Co. (NASDAQ:CDW)

Private Trust Co. NA lowered its holdings in CDW Co. (NASDAQ:CDW) by 37.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,266 shares of the information technology services provider’s stock after selling 763 shares during the quarter. Private Trust Co. NA’s holdings in CDW were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in CDW in the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC raised its stake in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP bought a new position in shares of CDW in the third quarter valued at approximately $172,217,000. Proficio Capital Partners LLC boosted its position in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after buying an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their price objective 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 raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Down 3.2 %

CDW stock opened at $172.50 on Tuesday. The firm has a 50 day moving average price of $186.80 and a 200-day moving average price of $198.81. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a market capitalization of $22.85 billion, a P/E ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed 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. This represents a $2.50 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its Board of Directors has authorized a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.