Securian Asset Management Inc. Sells 213 Shares of CDW Co. (NASDAQ:CDW)

Securian Asset Management Inc. reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,099 shares of the information technology services provider’s stock after selling 213 shares during the quarter. Securian Asset Management Inc.’s holdings in CDW were worth $1,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Assetmark Inc. raised its position in CDW by 37.3% in the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock valued at $221,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd raised its position in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Apollon Wealth Management LLC raised its position in CDW by 36.1% in the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider’s stock valued at $665,000 after purchasing an additional 779 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in CDW by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider’s stock valued at $75,125,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in CDW by 21.8% in the third quarter. Zions Bancorporation N.A. now owns 4,113 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 735 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 2.1 %

NASDAQ CDW opened at $167.00 on Friday. The business has a 50 day simple moving average of $185.71 and a 200 day simple moving average of $195.73. CDW Co. has a one year low of $162.84 and a one year high of $263.37. The stock has a market capitalization of $22.13 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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

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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Morgan Stanley increased 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. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.