Stratos Wealth Partners LTD. Reduces Stake in CDW Co. (NASDAQ:CDW)

Stratos Wealth Partners LTD. lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,430 shares of the information technology services provider's stock after selling 4,023 shares during the period. Stratos Wealth Partners LTD.'s holdings in CDW were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. Canoe Financial LP purchased a new position in CDW during the third quarter worth $37,000. Fortitude Family Office LLC boosted its stake in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after buying an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new position in CDW during the third quarter worth $43,000. Covestor Ltd boosted its stake in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after buying an additional 109 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in CDW during the fourth quarter worth $69,000. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CDW shares. JPMorgan Chase & Co. lowered shares of 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. Barclays boosted their target price 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. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their target price on shares of 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 five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.67.

CDW Stock Up 1.0 %

Shares of CDW stock traded up $1.80 on Friday, hitting $189.39. The stock had a trading volume of 1,733,962 shares, compared to its average volume of 1,442,600. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average price of $184.91 and a 200 day moving average price of $200.74. The company has a market cap of $25.24 billion, a PE ratio of 23.76, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

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%. Research analysts anticipate that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. CDW's dividend payout ratio is presently 31.37%.

CDW declared that its Board of Directors has approved a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board 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.