CDW Co. (NASDAQ:CDW) Shares Sold by Covestor Ltd

Covestor Ltd lessened its position in CDW Co. (NASDAQ:CDW) by 33.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164 shares of the information technology services provider’s stock after selling 81 shares during the quarter. Covestor Ltd’s holdings in CDW were worth $29,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after purchasing an additional 3,424 shares during the last quarter. Fulcrum Equity Management boosted its position in CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in CDW by 18.6% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock valued at $572,000 after acquiring an additional 397 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in CDW by 5.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider’s stock valued at $1,260,000 after acquiring an additional 265 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in CDW in the 3rd quarter worth approximately $973,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $150.83 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52-week low of $137.31 and a 52-week high of $248.12. The firm has a market cap of $19.98 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company’s 50 day moving average is $170.14 and its two-hundred day moving average is $184.91.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CDW. Citigroup cut their price target on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $224.88.

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.