Boston Partners Sells 408,762 Shares of CDW Co. (NASDAQ:CDW)

Boston Partners decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 62.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,341 shares of the information technology services provider’s stock after selling 408,762 shares during the period. Boston Partners owned approximately 0.19% of CDW worth $43,084,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CDW. Allworth Financial LP lifted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new position in CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP raised its holdings in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in CDW in the fourth quarter worth about $69,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of NASDAQ CDW opened at $172.84 on Thursday. The firm has a 50 day moving average of $185.01 and a 200 day moving average of $193.96. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has authorized a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. CDW’s payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CDW shares. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.