Commonwealth Equity Services LLC Reduces Position in CDW Co. (NASDAQ:CDW)

Commonwealth Equity Services LLC lowered its position in CDW Co. (NASDAQ:CDW) by 30.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,727 shares of the information technology services provider’s stock after selling 2,559 shares during the period. Commonwealth Equity Services LLC’s holdings in CDW were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Allworth Financial LP raised its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the period. Canoe Financial LP grew its holdings in shares of CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in CDW in the 4th quarter valued at about $69,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on CDW shares. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group dropped their price objective 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Down 0.8 %

CDW stock opened at $160.26 on Tuesday. The stock’s 50 day moving average price is $181.83 and its 200 day moving average price is $190.93. CDW Co. has a 1-year low of $158.76 and a 1-year high of $263.37. The company has a market cap of $21.23 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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

CDW announced that its board has authorized a share repurchase program 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 buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

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.