CDW Co. (NASDAQ:CDW) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC cut its position in CDW Co. (NASDAQ:CDW - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,550 shares of the information technology services provider's stock after selling 19,593 shares during the period. Curi RMB Capital LLC owned 0.06% of CDW worth $13,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CDW. Norges Bank acquired a new position in shares of CDW in the 4th quarter valued at $144,826,000. Madison Investment Advisors LLC purchased a new position in shares of CDW during the fourth quarter worth about $130,996,000. Proficio Capital Partners LLC lifted its holdings in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of CDW by 31.3% in the 4th 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 purchasing an additional 575,333 shares during the period. Finally, Wellington Management Group LLP grew its stake in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after buying an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Barclays boosted their price target 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, Citigroup dropped their price objective on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.38.

CDW Trading Up 2.2 %

Shares of CDW traded up $3.39 during mid-day trading on Thursday, reaching $158.25. The company had a trading volume of 427,507 shares, compared to its average volume of 1,478,930. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. 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 firm has a fifty day simple moving average of $165.45 and a 200-day simple moving average of $182.28. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.58%. CDW's dividend payout ratio is currently 31.37%.

CDW declared that its board has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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.