Prudential Financial Inc. Has $12.19 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Prudential Financial Inc. reduced its position in shares of CDW Co. (NASDAQ:CDW) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,063 shares of the information technology services provider’s stock after selling 10,570 shares during the period. Prudential Financial Inc. owned approximately 0.05% of CDW worth $12,194,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. Summit Trail Advisors LLC raised its stake in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after acquiring an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Fulcrum Equity Management lifted its holdings in shares of 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 acquiring an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 61 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW opened at $161.51 on Friday. The firm has a market cap of $21.40 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $160.96 and a 52 week high of $263.37. The firm’s fifty day moving average is $182.40 and its 200-day moving average is $191.68. 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 (NASDAQ:CDW) last announced its 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%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is presently 31.37%.

Analyst Ratings Changes

CDW has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

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.