CDW Co. (NASDAQ:CDW) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in CDW Co. (NASDAQ:CDW) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,330 shares of the information technology services provider’s stock after selling 1,251 shares during the period. Avantax Advisory Services Inc.’s holdings in CDW were worth $1,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW during the 3rd quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. raised its position in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Graphene Investments SAS raised its position in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Czech National Bank raised its position in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after acquiring an additional 1,685 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on CDW shares. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Up 1.2 %

NASDAQ:CDW opened at $172.84 on Thursday. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 3.21 and a beta of 1.01. The business has a fifty day moving average of $185.01 and a 200-day moving average of $193.96. 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 released 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 return on equity of 55.42% and a net margin of 5.13%. Equities analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.45%. CDW’s dividend payout ratio is currently 31.37%.

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.