Apollon Wealth Management LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Apollon Wealth Management LLC trimmed its stake in CDW Co. (NASDAQ:CDW) by 3.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,825 shares of the information technology services provider’s stock after selling 113 shares during the period. Apollon Wealth Management LLC’s holdings in CDW were worth $492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Canoe Financial LP purchased a new stake in shares of CDW in the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% during the 3rd 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 stake in CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd increased its stake in CDW by 80.1% during the 3rd 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 stake in CDW during the 4th quarter worth approximately $69,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CDW shares. Barclays upped their target price on shares of 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 upped their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. 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 research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Down 0.7 %

NASDAQ CDW opened at $187.59 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The stock has a market capitalization of $25.00 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The firm has a 50 day moving average of $184.72 and a two-hundred day moving average of $201.25.

CDW (NASDAQ:CDW) last issued its 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, research analysts expect that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

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.