Steward Partners Investment Advisory LLC Sells 3,478 Shares of CDW Co. (NASDAQ:CDW)

Steward Partners Investment Advisory LLC reduced its position in CDW Co. (NASDAQ:CDW) by 48.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,660 shares of the information technology services provider’s stock after selling 3,478 shares during the period. Steward Partners Investment Advisory LLC’s holdings in CDW were worth $637,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC lifted its stake in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new position in CDW during the 3rd quarter valued at $172,217,000. Proficio Capital Partners LLC lifted its stake in CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after acquiring an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of CDW by 7,549.9% during the 4th 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 purchasing an additional 252,921 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDW. Barclays raised their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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 report on Thursday, February 6th. Finally, Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Trading Down 2.0 %

Shares of NASDAQ:CDW opened at $166.05 on Wednesday. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock’s 50-day simple moving average is $186.14 and its two-hundred day simple moving average is $196.61. CDW Co. has a 52-week low of $164.96 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding 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 often a sign that the company’s management believes its shares are undervalued.

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.