CDW Co. (NASDAQ:CDW) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,269 shares of the information technology services provider’s stock after selling 1,073 shares during the period. Moran Wealth Management LLC’s holdings in CDW were worth $4,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP raised its position 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 purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW during the 4th quarter worth approximately $32,000. Ashton Thomas Securities LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $43,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Covestor Ltd raised its position 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 purchasing an additional 109 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 0.7 %

Shares of CDW opened at $169.51 on Tuesday. CDW Co. has a fifty-two week low of $164.98 and a fifty-two week high of $263.37. The stock has a fifty day moving average of $186.22 and a two-hundred day moving average of $197.00. The company has a market capitalization of $22.46 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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, analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. CDW’s dividend payout ratio is presently 31.37%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.