CDW Co. (NASDAQ:CDW) Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,900 shares of the information technology services provider’s stock after selling 5,070 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in CDW were worth $14,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in CDW during the third quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in shares of CDW during the 4th quarter worth approximately $30,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW during the 3rd quarter valued at approximately $28,000. ORG Partners LLC acquired a new position in shares of CDW in the 4th quarter valued at $36,000. Finally, Oakworth Capital Inc. purchased a new stake in CDW during the fourth quarter worth $36,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW traded down $0.50 during trading hours on Friday, hitting $223.64. 1,299,254 shares of the stock were exchanged, compared to its average volume of 760,786. The stock’s 50-day moving average price is $240.85 and its two-hundred day moving average price is $230.64. CDW Co. has a 12-month low of $167.57 and a 12-month high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The company has a market cap of $30.06 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09.

CDW Dividend Announcement

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

CDW declared that its Board of Directors has authorized a stock buyback program 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDW. Evercore ISI lifted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus cut their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Citigroup lowered their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.