Seascape Capital Management Sells 968 Shares of CDW Co. (NASDAQ:CDW)

Seascape Capital Management lessened its position in shares of CDW Co. (NASDAQ:CDW) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,470 shares of the information technology services provider’s stock after selling 968 shares during the quarter. Seascape Capital Management’s holdings in CDW were worth $3,214,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of CDW during the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC raised its stake in shares of 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of CDW by 0.3% during 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 in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.0 %

CDW stock opened at $189.39 on Friday. The firm’s fifty day simple moving average is $184.91 and its 200-day simple moving average is $200.74. The company has a market capitalization of $25.24 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 5.40 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 1.28. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results 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%. As a group, equities research analysts forecast that CDW Co. will post 9.35 earnings per share for the current year.

CDW declared that its board has initiated a stock repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

Analyst Ratings Changes

Several analysts have weighed in on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. UBS Group dropped their target price on shares of 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 boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

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.