Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Holdings in CDW Co. (NASDAQ:CDW)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of CDW Co. (NASDAQ:CDW) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,551 shares of the information technology services provider’s stock after selling 800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CDW were worth $5,839,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cabot Wealth Management Inc. grew its holdings in CDW by 1.6% in the fourth quarter. Cabot Wealth Management Inc. now owns 69,465 shares of the information technology services provider’s stock valued at $12,090,000 after purchasing an additional 1,101 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in CDW in the 4th quarter valued at $174,000. Jacobson & Schmitt Advisors LLC increased its holdings in CDW by 2.8% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after acquiring an additional 1,861 shares in the last quarter. Global Retirement Partners LLC increased its holdings in CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock worth $92,000 after acquiring an additional 75 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in CDW by 9.0% during the fourth quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock worth $1,364,000 after acquiring an additional 649 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ:CDW opened at $186.69 on Tuesday. The stock has a 50 day moving average price of $186.32 and a 200 day moving average price of $199.79. The stock has a market cap of $24.88 billion, a PE ratio of 23.42, a P/E/G 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 one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly 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%. Equities research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several research analyst reports. 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 note on Thursday, February 6th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

About CDW

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.