CDW Co. (NASDAQ:CDW) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,997 shares of the information technology services provider's stock after selling 1,570 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of CDW worth $12,356,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDW. Canoe Financial LP purchased a new stake in CDW during the third quarter valued at $37,000. Fortitude Family Office LLC raised its stake in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter valued at $43,000. Covestor Ltd raised its stake in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock valued at $55,000 after acquiring an additional 109 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of CDW in the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. 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. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays raised 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Stock Down 0.9 %

CDW stock traded down $1.70 during midday trading on Thursday, hitting $192.80. 915,227 shares of the company's stock were exchanged, compared to its average volume of 1,388,392. 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 12 month low of $168.43 and a 12 month high of $263.37. The firm has a 50-day moving average of $185.64 and a two-hundred day moving average of $200.28. The company has a market cap of $25.69 billion, a PE ratio of 24.19, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last issued 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 net margin of 5.13% and a return on equity of 55.42%. As a group, analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share repurchase 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is 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.