Alliancebernstein L.P. Has $159.51 Million Position in CDW Co. (NASDAQ:CDW)

Alliancebernstein L.P. trimmed its position in CDW Co. (NASDAQ:CDW) by 65.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 916,519 shares of the information technology services provider’s stock after selling 1,749,492 shares during the quarter. Alliancebernstein L.P. owned approximately 0.69% of CDW worth $159,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Janus Henderson Group PLC boosted its stake in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Norges Bank bought a new stake in shares of CDW in the fourth quarter valued at about $144,826,000. Madison Investment Advisors LLC acquired a new position in shares of CDW during the fourth quarter worth about $130,996,000. Proficio Capital Partners LLC lifted its stake in CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after acquiring an additional 683,446 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays increased their price target 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 lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Performance

CDW stock opened at $162.08 on Wednesday. The business has a 50 day moving average of $181.24 and a 200-day moving average of $190.52. 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 Co. has a 1 year low of $158.76 and a 1 year high of $263.37. The company has a market capitalization of $21.47 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced 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%. On average, equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.54%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its board has initiated a share repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally 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.