ING Groep NV Reduces Holdings in CDW Co. (NASDAQ:CDW)

ING Groep NV lessened its holdings in CDW Co. (NASDAQ:CDW) by 25.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,277 shares of the information technology services provider’s stock after selling 6,913 shares during the period. ING Groep NV’s holdings in CDW were worth $3,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CDW. Creative Planning lifted its position in shares of CDW by 2.1% in the third quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock valued at $3,226,000 after acquiring an additional 297 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CDW by 184.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock valued at $4,854,000 after purchasing an additional 13,902 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of CDW by 10.7% during the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of CDW during the third quarter worth about $174,040,000. Finally, Brighton Jones LLC acquired a new position in shares of CDW in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

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

CDW Stock Down 3.3 %

Shares of NASDAQ:CDW opened at $186.50 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The stock has a 50-day simple moving average of $186.14 and a 200-day simple moving average of $200.03. The stock has a market capitalization of $24.85 billion, a P/E ratio of 23.40, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued 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 return on equity of 55.42% and a net margin of 5.13%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

CDW Announces Dividend

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

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.