CDW Co. (NASDAQ:CDW) Stock Holdings Lowered by Brown Advisory Inc.

Brown Advisory Inc. lowered its position in shares of CDW Co. (NASDAQ:CDW) by 27.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,667 shares of the information technology services provider’s stock after selling 615 shares during the period. Brown Advisory Inc.’s holdings in CDW were worth $379,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in CDW by 91.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock valued at $146,971,000 after buying an additional 348,749 shares in the last quarter. Lazard Asset Management LLC grew its position in CDW by 459.5% in the 3rd quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after buying an additional 207,184 shares in the last quarter. Royal Bank of Canada grew its position in CDW by 54.3% in the 3rd quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock valued at $113,261,000 after buying an additional 197,479 shares in the last quarter. EULAV Asset Management bought a new position in CDW in the 3rd quarter valued at about $24,213,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in CDW by 289.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,228 shares of the information technology services provider’s stock valued at $33,241,000 after buying an additional 108,648 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $231.06 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a one year low of $167.73 and a one year high of $263.37. The firm has a market capitalization of $31.05 billion, a PE ratio of 28.85, a P/E/G ratio of 3.40 and a beta of 1.09. The firm has a 50-day moving average of $239.23 and a two-hundred day moving average of $231.87.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. On average, analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The business 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW announced that its board has initiated a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.