Evercore Wealth Management LLC Sells 12,051 Shares of CDW Co. (NASDAQ:CDW)

Evercore Wealth Management LLC decreased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 524,066 shares of the information technology services provider's stock after selling 12,051 shares during the quarter. CDW makes up 1.4% of Evercore Wealth Management LLC's investment portfolio, making the stock its 25th largest position. Evercore Wealth Management LLC owned approximately 0.39% of CDW worth $91,208,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas purchased a new position in shares of CDW in the third quarter valued at $1,629,000. Assenagon Asset Management S.A. boosted its stake in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after purchasing an additional 252,921 shares during the period. Franklin Resources Inc. boosted its stake in CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after purchasing an additional 13,748 shares during the period. Madison Investment Advisors LLC bought a new stake in shares of CDW during the fourth quarter valued at about $130,996,000. Finally, Graphene Investments SAS lifted its holdings in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after buying an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. 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. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Trading Up 2.4 %

Shares of CDW stock opened at $152.03 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $20.03 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business has a 50-day moving average price of $166.14 and a two-hundred day moving average price of $182.47. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12.

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

CDW announced that its board has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

About CDW

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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