WBI Investments LLC Has $741,000 Stock Position in CDW Co. (NASDAQ:CDW)

WBI Investments LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 76.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,262 shares of the information technology services provider’s stock after selling 10,745 shares during the period. WBI Investments LLC’s holdings in CDW were worth $741,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new position in CDW in the third quarter valued at about $28,000. Larson Financial Group LLC bought a new stake in shares of CDW during the 4th quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new position in CDW during the 3rd quarter worth approximately $35,000. ORG Partners LLC acquired a new stake in CDW in the fourth quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. bought a new stake in shares of CDW during the fourth quarter worth $36,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW traded down $0.83 during trading on Thursday, reaching $234.82. The stock had a trading volume of 227,061 shares, compared to its average volume of 726,073. CDW Co. has a one year low of $167.57 and a one year 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 business has a 50-day moving average of $239.82 and a 200-day moving average of $231.40. The stock has a market cap of $31.56 billion, a PE ratio of 29.50, a PEG ratio of 3.39 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.15). The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. As a group, equities research analysts anticipate that CDW Co. will post 9.68 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.06%. CDW’s dividend payout ratio is presently 30.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDW. Citigroup dropped their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI upped 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. Finally, Stifel Nicolaus dropped their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.50.

CDW 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.