Wealthfront Advisers LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,849 shares of the information technology services provider's stock after selling 3,200 shares during the period. Wealthfront Advisers LLC's holdings in CDW were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CDW. Allworth Financial LP raised its position in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC raised its stake in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after acquiring an additional 56 shares during the last quarter. OneAscent Wealth Management LLC increased its position in CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock worth $540,000 after purchasing an additional 58 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Fulcrum Equity Management grew its holdings in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after acquiring an additional 60 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.
CDW Stock Down 2.8 %
Shares of NASDAQ CDW traded down $4.80 during mid-day trading on Thursday, reaching $168.04. The company had a trading volume of 934,231 shares, compared to its average volume of 1,032,128. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. 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 capitalization of $22.26 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock's 50 day moving average is $185.01 and its 200-day moving average is $193.96.
CDW (NASDAQ:CDW - Get Free Report) last posted 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW announced that its board has initiated a share buyback plan 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
CDW Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is presently 31.37%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on CDW shares. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $242.67.
Check Out Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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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