Corient Private Wealth LLC Cuts Stake in CDW Co. (NASDAQ:CDW)

Corient Private Wealth LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,778 shares of the information technology services provider’s stock after selling 23,090 shares during the period. Corient Private Wealth LLC owned 0.08% of CDW worth $17,539,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Natixis Advisors LLC lifted its holdings in shares of CDW by 13.5% during the 4th quarter. Natixis Advisors LLC now owns 294,840 shares of the information technology services provider’s stock worth $51,314,000 after acquiring an additional 34,965 shares during the period. Hills Bank & Trust Co lifted its holdings in shares of CDW by 1.1% during the 4th quarter. Hills Bank & Trust Co now owns 12,357 shares of the information technology services provider’s stock worth $2,151,000 after acquiring an additional 140 shares during the period. Intact Investment Management Inc. lifted its holdings in shares of CDW by 129.2% during the 4th quarter. Intact Investment Management Inc. now owns 5,500 shares of the information technology services provider’s stock worth $957,000 after acquiring an additional 3,100 shares during the period. Mondrian Investment Partners LTD lifted its holdings in shares of CDW by 22.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 693,175 shares of the information technology services provider’s stock worth $120,640,000 after acquiring an additional 126,106 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in shares of CDW during the 4th quarter worth about $130,996,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 0.1 %

Shares of NASDAQ:CDW opened at $170.76 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37. The company has a 50 day moving average of $185.18 and a two-hundred day moving average of $194.11. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued 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 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

Analyst Ratings Changes

Several research firms recently commented on CDW. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price target 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.