Allspring Global Investments Holdings LLC Has $994,000 Stock Position in CDW Co. (NASDAQ:CDW)

Allspring Global Investments Holdings LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 72.7% during the 4th quarter, Holdings Channel reports. The firm owned 5,848 shares of the information technology services provider’s stock after selling 15,602 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CDW were worth $994,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW during the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC boosted its stake in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP bought a new stake in CDW in the 3rd quarter valued at $172,217,000. Assenagon Asset Management S.A. boosted its stake in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Finally, Unigestion Holding SA boosted its stake in CDW by 917.4% in the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $186.50 on Monday. 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 cap of $24.85 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.21 and a beta of 1.01. The business has a fifty day simple moving average of $186.14 and a 200 day simple moving average of $199.97.

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, topping 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%. On average, sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CDW shares. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.