Envestnet Portfolio Solutions Inc. Has $1.05 Million Stock Position in CDW Co. (NASDAQ:CDW)

Envestnet Portfolio Solutions Inc. lessened its position in shares of CDW Co. (NASDAQ:CDW) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,047 shares of the information technology services provider’s stock after selling 3,668 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CDW were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new stake in CDW during the third quarter worth $1,629,000. Assenagon Asset Management S.A. boosted 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 acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. increased its stake in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares during the period. Madison Investment Advisors LLC acquired a new position in CDW in the fourth quarter worth about $130,996,000. Finally, Graphene Investments SAS lifted its stake in CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after purchasing an additional 2,600 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective 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 increased their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $165.57 on Friday. The business has a fifty day moving average of $184.40 and a 200-day moving average of $193.19. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The firm has a market cap of $21.94 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.51%. CDW’s payout ratio is 31.37%.

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

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.