Clarius Group LLC Has $268,000 Stock Position in CDW Co. (NASDAQ:CDW)

Clarius Group LLC reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 9.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,179 shares of the information technology services provider’s stock after selling 126 shares during the period. Clarius Group LLC’s holdings in CDW were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Scotia Capital Inc. grew its position in CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after purchasing an additional 50 shares in the last quarter. Diversified Trust Co boosted its stake in shares of CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after buying an additional 51 shares during the last quarter. Phoenix Holdings Ltd. grew its holdings in shares of CDW by 4.3% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 52 shares in the last quarter. Ballentine Partners LLC increased its position in shares of CDW by 1.1% in the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after acquiring an additional 54 shares during the last quarter. Finally, TFC Financial Management Inc. raised its holdings in CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 55 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CDW Trading Down 2.1 %

Shares of CDW stock opened at $242.91 on Monday. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The company has a market capitalization of $32.64 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.75 and a beta of 1.09. The firm has a 50 day moving average price of $247.19 and a two-hundred day moving average price of $226.38. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

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, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $2.40 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, analysts predict that CDW Co. will post 9.88 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend 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%.

CDW declared that its board has approved a share buyback program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.