Vontobel Holding Ltd. Trims Position in CDW Co. (NASDAQ:CDW)

Vontobel Holding Ltd. trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,532 shares of the information technology services provider’s stock after selling 760 shares during the period. Vontobel Holding Ltd.’s holdings in CDW were worth $1,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of CDW during the 3rd quarter worth $25,000. VisionPoint Advisory Group LLC acquired a new stake in shares of CDW during the 3rd quarter worth $28,000. TFC Financial Management Inc. increased its holdings in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in CDW in the 4th quarter valued at $33,000. Finally, Orion Capital Management LLC acquired a new stake in CDW in the 3rd quarter valued at $35,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on CDW shares. JPMorgan Chase & Co. increased their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup increased their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Barclays increased their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, Evercore ISI increased their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $235.78 on Friday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The firm has a 50-day moving average of $247.22 and a two-hundred day moving average of $227.29. The stock has a market cap of $31.68 billion, a P/E ratio of 29.11, a PEG ratio of 2.68 and a beta of 1.09. CDW Co. has a 1-year low of $161.53 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $2.40 earnings per share. On average, research analysts expect that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. CDW’s dividend payout ratio (DPR) is 30.62%.

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

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.