CDW Co. (NASDAQ:CDW) Shares Sold by Graypoint LLC

Graypoint LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,616 shares of the information technology services provider’s stock after selling 104 shares during the quarter. Graypoint LLC’s holdings in CDW were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CDW. Raymond James Financial Services Advisors Inc. grew its holdings in CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after acquiring an additional 6,799 shares during the period. Pacer Advisors Inc. boosted its stake in shares of CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after acquiring an additional 7,310 shares in the last quarter. JGP Wealth Management LLC acquired a new position in shares of CDW in the 4th quarter worth $1,559,000. California Public Employees Retirement System raised its position in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the period. Finally, Amalgamated Bank raised its position in shares of CDW by 22.0% during the third quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider’s stock worth $9,034,000 after purchasing an additional 8,063 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW opened at $242.91 on Monday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm has a market cap of $32.64 billion, a PE ratio of 29.99, a PEG ratio of 2.75 and a beta of 1.09. CDW Co. has a twelve month low of $160.66 and a twelve month high of $263.37. The firm’s 50 day moving average price is $247.19 and its 200 day moving average price is $226.38.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 EPS. As a group, research analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. CDW’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CDW. Barclays increased their target price on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Citigroup increased their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $238.90.

About CDW

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.