CDW Co. (NASDAQ:CDW) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 1.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,424 shares of the information technology services provider’s stock after selling 46 shares during the period. Schechter Investment Advisors LLC’s holdings in CDW were worth $1,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley increased its position in shares of CDW by 130.7% during the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after purchasing an additional 1,383,869 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in CDW in the 2nd quarter valued at about $75,222,000. Norges Bank acquired a new position in CDW in the 4th quarter valued at about $66,992,000. The Manufacturers Life Insurance Company increased its position in CDW by 91.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock valued at $146,971,000 after acquiring an additional 348,749 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in CDW in the 1st quarter valued at about $63,265,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 1.5 %

Shares of CDW stock opened at $257.87 on Thursday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a 1 year low of $160.66 and a 1 year high of $258.01. The company has a market capitalization of $34.61 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.88 and a beta of 1.09. The business has a 50 day moving average price of $241.40 and a 200 day moving average price of $222.42.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the firm posted $2.40 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts anticipate that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 0.96%. CDW’s dividend payout ratio (DPR) is presently 30.62%.

CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDW. Barclays boosted their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective on the stock. in a report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $228.60.

CDW Company 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.