Dark Forest Capital Management LP Sells 1,615 Shares of CDW Co. (NASDAQ:CDW)

Dark Forest Capital Management LP decreased its holdings in CDW Co. (NASDAQ:CDW) by 44.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,979 shares of the information technology services provider’s stock after selling 1,615 shares during the quarter. Dark Forest Capital Management LP’s holdings in CDW were worth $344,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Oddo BHF Asset Management Sas bought a new position in CDW during the third quarter worth about $1,629,000. Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. grew its position 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 acquiring an additional 13,748 shares during the period. Madison Investment Advisors LLC acquired a new position in CDW during the fourth quarter worth $130,996,000. Finally, Graphene Investments SAS lifted its holdings in shares of CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of CDW stock opened at $157.95 on Monday. The firm has a market cap of $20.81 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a 50-day moving average price of $164.15 and a 200 day moving average price of $180.81.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS 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%. Research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The business 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 (DPR) is currently 31.37%.

Analyst Upgrades and Downgrades

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

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.