Corient Private Wealth LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Corient Private Wealth LLC reduced its stake in CDW Co. (NASDAQ:CDW - Free Report) by 18.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,778 shares of the information technology services provider's stock after selling 23,090 shares during the quarter. Corient Private Wealth LLC owned approximately 0.08% of CDW worth $17,539,000 as of its most recent SEC filing.

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

CDW Stock Performance

Shares of CDW stock traded down $2.52 during trading on Friday, reaching $165.57. 2,060,916 shares of the company's stock traded hands, compared to its average volume of 1,038,222. The firm's 50-day moving average is $184.40 and its 200 day moving average is $193.36. The company has a market capitalization of $21.94 billion, a P/E ratio of 20.77, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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CDW (NASDAQ:CDW - Get Free Report) last posted 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%. Equities research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has approved a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in 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 typically a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 1.51%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CDW shares. Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group dropped 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. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $242.67.

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.