CDW Co. (NASDAQ:CDW) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 35.5% during the 4th quarter, HoldingsChannel reports. The firm owned 22,399 shares of the information technology services provider’s stock after selling 12,336 shares during the period. Truist Financial Corp’s holdings in CDW were worth $3,898,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Canoe Financial LP purchased a new position in shares of CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC raised its holdings in shares of 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 acquiring an additional 133 shares during the period. Allworth Financial LP raised its holdings in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CDW during the 3rd quarter worth $43,000. Finally, Covestor Ltd raised its holdings in shares of 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 acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDW. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Up 0.1 %

Shares of CDW opened at $186.69 on Tuesday. The stock has a market capitalization of $24.88 billion, a PE ratio of 23.42, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year 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 company’s 50-day simple moving average is $186.32 and its 200-day simple moving average is $199.79.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio is presently 31.37%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.