TD Waterhouse Canada Inc. Trims Holdings in CDW Co. (NASDAQ:CDW)

TD Waterhouse Canada Inc. lowered its position in CDW Co. (NASDAQ:CDW) by 45.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 838 shares of the information technology services provider’s stock after selling 707 shares during the period. TD Waterhouse Canada Inc.’s holdings in CDW were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW in the 3rd quarter valued at $1,629,000. Assenagon Asset Management S.A. lifted its position in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Franklin Resources Inc. boosted its holdings in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider’s stock valued at $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in CDW during the 4th quarter worth about $130,996,000. Finally, Graphene Investments SAS raised its stake in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $157.95 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $20.81 billion, a PE ratio of 19.82, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The company has a fifty day moving average of $164.15 and a two-hundred day moving average of $181.09.

CDW (NASDAQ:CDW) last released its quarterly 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 net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDW. Citigroup lowered their target price on CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $217.38.

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.