Southeast Asset Advisors LLC Sells 8,499 Shares of CDW Co. (NASDAQ:CDW)

Southeast Asset Advisors LLC decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,333 shares of the information technology services provider's stock after selling 8,499 shares during the quarter. Southeast Asset Advisors LLC's holdings in CDW were worth $3,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. Allworth Financial LP increased its position in 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 period. OFI Invest Asset Management acquired a new position in CDW during the 4th quarter valued at $32,000. Parkside Financial Bank & Trust boosted its holdings 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 grew its position in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of CDW during the 4th quarter worth about $66,000. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent research reports. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $235.50.

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CDW Price Performance

CDW stock traded up $2.10 during mid-day trading on Friday, hitting $148.80. 1,815,288 shares of the company were exchanged, compared to its average volume of 1,160,407. The company has a market capitalization of $19.71 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business has a fifty day moving average of $172.21 and a 200 day moving average of $185.97. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.68%. CDW's payout ratio is 31.37%.

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

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.