NZS Capital LLC Sells 42,998 Shares of CDW Co. (NASDAQ:CDW)

NZS Capital LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 47.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,573 shares of the information technology services provider’s stock after selling 42,998 shares during the quarter. NZS Capital LLC’s holdings in CDW were worth $8,280,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CDW. Barclays PLC increased its stake in CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the last quarter. Fulcrum Equity Management increased its position in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in CDW by 18.6% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock valued at $572,000 after purchasing an additional 397 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in CDW during the third quarter valued at $973,000. Finally, Franklin Resources Inc. grew its stake in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CDW shares. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley boosted 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. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup reduced their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.38.

CDW Stock Down 0.6 %

Shares of CDW opened at $157.95 on Friday. The firm has a market capitalization of $20.81 billion, a P/E ratio of 19.82, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. The firm has a fifty day moving average price of $164.15 and a 200-day moving average price of $181.09. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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

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 issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.58%. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has initiated a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.