Harbour Trust & Investment Management Co Has $3.38 Million Position in CDW Co. (NASDAQ:CDW)

Harbour Trust & Investment Management Co lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,399 shares of the information technology services provider's stock after selling 1,470 shares during the quarter. Harbour Trust & Investment Management Co's holdings in CDW were worth $3,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CDW. Canoe Financial LP acquired a new position in CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC lifted its holdings in 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 buying an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new position in CDW in the third quarter valued at approximately $43,000. Covestor Ltd boosted its position in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of CDW during the third quarter worth $90,000. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 0.7 %

Shares of NASDAQ:CDW traded down $1.35 during mid-day trading on Thursday, reaching $187.59. 1,120,550 shares of the stock were exchanged, compared to its average volume of 1,412,643. The stock's 50 day simple moving average is $184.72 and its 200-day simple moving average is $201.25. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a market cap of $25.00 billion, a P/E ratio of 23.54, a P/E/G ratio of 5.40 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly 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%. As a group, equities research analysts predict that CDW Co. will post 9.35 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.33%. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in 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 plans are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of 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. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays raised their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $242.67.

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.