Mizuho Bank Ltd. Sells 70 Shares of CDW Co. (NASDAQ:CDW)

Mizuho Bank Ltd. reduced its position in shares of CDW Co. (NASDAQ:CDW) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 330 shares of the information technology services provider’s stock after selling 70 shares during the quarter. Mizuho Bank Ltd.’s holdings in CDW were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CDW. Centiva Capital LP bought a new stake in shares of CDW during the third quarter worth about $447,000. Hilltop Holdings Inc. boosted its stake in CDW by 34.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock valued at $388,000 after purchasing an additional 443 shares during the last quarter. Investment Management Corp of Ontario increased its holdings in CDW by 49.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 4,531 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 1,500 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of CDW by 16.5% in the third quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider’s stock worth $353,000 after purchasing an additional 231 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of CDW by 22.8% in the third quarter. Quantinno Capital Management LP now owns 31,533 shares of the information technology services provider’s stock valued at $7,136,000 after purchasing an additional 5,859 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of analyst reports. Morgan Stanley increased their price target 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 increased their target price 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. Finally, UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Performance

NASDAQ CDW opened at $144.49 on Friday. The company has a market capitalization of $19.14 billion, a PE ratio of 18.13, a price-to-earnings-growth 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 $141.80 and a 52-week high of $257.33. The company has a 50-day simple moving average of $178.71 and a 200 day simple moving average of $189.54.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The company also recently announced 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 was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.73%. CDW’s 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.