Mutual of America Capital Management LLC Has $2.78 Million Holdings in CDW Co. (NASDAQ:CDW)
Mutual of America Capital Management LLC cut its stake in shares of CDW Co. (NASDAQ:CDW – Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,962 shares of the information technology services provider’s stock after selling 485 shares during the period. Mutual of America Capital Management LLC’s holdings in CDW were worth $2,778,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Fielder Capital Group LLC acquired a new position in shares of CDW during the fourth quarter worth $415,000. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Versor Investments LP acquired a new stake in CDW in the fourth quarter valued at $1,114,000. Proficio Capital Partners LLC increased its holdings in CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in CDW by 41.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider’s stock valued at $416,000 after purchasing an additional 701 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on CDW shares. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. 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 research report on Thursday, February 6th. Finally, UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.
Check Out Our Latest Report on CDW
CDW Price Performance
CDW stock opened at $167.26 on Friday. The stock has a market capitalization of $22.16 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company’s 50-day moving average is $186.57 and its 200-day moving average is $197.93. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1 year low of $167.12 and a 1 year high of $263.37.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
CDW Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.49%. CDW’s dividend payout ratio (DPR) is presently 31.37%.
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.
Further Reading
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