Amalgamated Bank Sells 511 Shares of CDW Co. (NASDAQ:CDW)

Amalgamated Bank trimmed its position in CDW Co. (NASDAQ:CDW) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,723 shares of the information technology services provider’s stock after selling 511 shares during the period. Amalgamated Bank’s holdings in CDW were worth $4,651,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in CDW during the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP bought a new stake in shares of CDW in the third quarter worth $172,217,000. Assenagon Asset Management S.A. increased its holdings in 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 purchasing an additional 252,921 shares during the period. Finally, Unigestion Holding SA raised its position in CDW by 917.4% during the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock worth $39,021,000 after purchasing an additional 155,517 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CDW shares. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target 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 research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

CDW stock opened at $179.00 on Friday. The stock’s 50 day moving average price is $186.73 and its two-hundred day moving average price is $199.29. The stock has a market capitalization of $23.72 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.21 and a beta of 1.01. 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 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is 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.