CDW Co. (NASDAQ:CDW) Shares Sold by Seascape Capital Management

Seascape Capital Management trimmed its holdings in CDW Co. (NASDAQ:CDW) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,470 shares of the information technology services provider’s stock after selling 968 shares during the quarter. Seascape Capital Management’s holdings in CDW were worth $3,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CDW. Massachusetts Financial Services Co. MA acquired a new stake in shares of CDW in the third quarter valued at about $416,111,000. Janus Henderson Group PLC raised its position 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 valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW in the third quarter valued at about $172,217,000. Assenagon Asset Management S.A. raised its position in shares of CDW by 7,549.9% in the fourth 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 buying an additional 252,921 shares during the last quarter. Finally, Unigestion Holding SA raised its position in shares of CDW by 917.4% in the third quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after buying an additional 155,517 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price objective 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. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 1.0 %

Shares of CDW stock opened at $189.39 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market cap of $25.24 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a 50-day moving average of $184.91 and a two-hundred day moving average of $200.74. CDW Co. has a 1-year low of $168.43 and a 1-year 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 for the quarter, topping 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, analysts predict that CDW Co. will post 9.35 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders 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 1.32%. CDW’s dividend payout ratio is presently 31.37%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback 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.