Cerity Partners LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,009 shares of the information technology services provider's stock after selling 4,292 shares during the quarter. Cerity Partners LLC's holdings in CDW were worth $6,093,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of CDW in the 4th quarter valued at $144,826,000. Madison Investment Advisors LLC acquired a new position in CDW during the fourth quarter worth approximately $130,996,000. Proficio Capital Partners LLC lifted its stake in CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after buying an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Price Performance
Shares of CDW stock traded down $0.91 during mid-day trading on Tuesday, reaching $150.83. The stock had a trading volume of 908,580 shares, compared to its average volume of 1,161,763. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business has a 50-day simple moving average of $170.14 and a 200 day simple moving average of $184.91. The company has a market cap of $19.98 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.13% and a return on equity of 55.42%. On average, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.
CDW declared that its board has authorized a stock buyback program 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
CDW Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CDW. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley boosted their price target 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. Finally, Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.88.
Get Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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.
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