Longview Partners Guernsey LTD Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Longview Partners Guernsey LTD reduced its holdings in CDW Co. (NASDAQ:CDW) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,557,883 shares of the information technology services provider’s stock after selling 110,187 shares during the period. CDW comprises approximately 3.3% of Longview Partners Guernsey LTD’s portfolio, making the stock its 20th biggest holding. Longview Partners Guernsey LTD’s holdings in CDW were worth $445,174,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the period. Canoe Financial LP lifted its position in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in CDW during the fourth quarter valued at $66,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CDW shares. Barclays upped their price target 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. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Citigroup lowered their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $224.88.

CDW Price Performance

NASDAQ CDW opened at $148.77 on Thursday. The firm’s fifty day simple moving average is $169.27 and its two-hundred day simple moving average is $184.66. The firm has a market capitalization of $19.60 billion, a P/E ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.97. 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 Co. has a 12-month low of $137.31 and a 12-month high of $248.12.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.