Thompson Siegel & Walmsley LLC Reduces Position in CDW Co. (NASDAQ:CDW)

Thompson Siegel & Walmsley LLC decreased its position in CDW Co. (NASDAQ:CDW) by 12.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,256 shares of the information technology services provider’s stock after selling 2,500 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in CDW were worth $4,150,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CDW. Northern Trust Corp grew its position in shares of CDW by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after buying an additional 20,345 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in CDW by 3.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after purchasing an additional 41,472 shares during the period. Barclays PLC raised its holdings in CDW by 2.1% in the 3rd quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after purchasing an additional 20,934 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CDW by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after purchasing an additional 20,152 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of CDW by 0.4% during the 4th quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock valued at $186,878,000 after purchasing an additional 3,082 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 0.2 %

CDW stock traded down $0.51 during trading on Friday, hitting $222.46. 676,696 shares of the stock traded hands, compared to its average volume of 784,679. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market cap of $29.90 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.28 and a beta of 1.09. CDW Co. has a 1 year low of $166.37 and a 1 year high of $263.37. The firm’s 50 day moving average is $243.26 and its two-hundred day moving average is $229.79.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.40 earnings per share. On average, sell-side analysts anticipate that CDW Co. will post 9.68 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

CDW declared that its board has initiated a stock buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on CDW. Evercore ISI raised their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Citigroup decreased their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus dropped their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays reduced their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $247.50.

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.