Kovitz Investment Group Partners LLC Sells 7,102 Shares of CDW Co. (NASDAQ:CDW)

Kovitz Investment Group Partners LLC lowered its stake in CDW Co. (NASDAQ:CDW - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,935 shares of the information technology services provider's stock after selling 7,102 shares during the period. Kovitz Investment Group Partners LLC's holdings in CDW were worth $7,647,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of CDW during the fourth quarter valued at $144,826,000. Madison Investment Advisors LLC bought a new stake in CDW during the 4th quarter worth about $130,996,000. Proficio Capital Partners LLC lifted its position in CDW by 18,259.3% during 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 period. Massachusetts Financial Services Co. MA boosted its stake 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 last quarter. Finally, Wellington Management Group LLP grew its position in shares of 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 period. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CDW shares. Citigroup reduced their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their price objective 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Price Performance

NASDAQ CDW opened at $157.95 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market cap of $20.81 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.21 and a beta of 0.97. The business has a 50 day simple moving average of $164.15 and a 200 day simple moving average of $181.09. CDW Co. has a 52-week low of $137.31 and a 52-week high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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%. Analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

CDW declared that its board has authorized a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

CDW 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.