Vaughan Nelson Investment Management L.P. Sells 55,780 Shares of CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. lowered its position in shares of CDW Co. (NASDAQ:CDW) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,833 shares of the information technology services provider’s stock after selling 55,780 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.10% of CDW worth $22,422,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Oddo BHF Asset Management Sas purchased a new position in CDW during the third quarter valued at $1,629,000. Assenagon Asset Management S.A. increased its holdings in shares of 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 acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Czech National Bank boosted its stake in CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after purchasing an additional 1,685 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW during the 3rd quarter valued at about $12,761,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $192.02 on Monday. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The business has a fifty day moving average of $183.86 and a 200 day moving average of $201.96. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market capitalization of $25.59 billion, a P/E ratio of 24.09, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, sell-side analysts anticipate that CDW Co. will post 9.35 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued 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 yield of 1.30%. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Barclays increased their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Company 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.