CDW Co. (NASDAQ:CDW) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC decreased its stake in shares of CDW Co. (NASDAQ:CDWFree Report) by 88.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 893 shares of the information technology services provider’s stock after selling 7,031 shares during the period. Beacon Pointe Advisors LLC’s holdings in CDW were worth $203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of CDW by 0.7% during the 3rd quarter. Victory Capital Management Inc. now owns 102,793 shares of the information technology services provider’s stock worth $20,740,000 after buying an additional 734 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of CDW by 9.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 7,291 shares of the information technology services provider’s stock worth $1,471,000 after purchasing an additional 608 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of CDW by 131.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 751 shares of the information technology services provider’s stock valued at $152,000 after purchasing an additional 427 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of CDW by 3.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after purchasing an additional 41,472 shares during the period. Finally, Nicolet Advisory Services LLC increased its position in CDW by 15.8% during the 3rd quarter. Nicolet Advisory Services LLC now owns 3,880 shares of the information technology services provider’s stock worth $797,000 after purchasing an additional 528 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDW. Stifel Nicolaus dropped their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Barclays reduced their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Citigroup reduced their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

Read Our Latest Research Report on CDW

CDW Stock Down 0.2 %

Shares of NASDAQ:CDW opened at $231.06 on Monday. The firm has a market cap of $31.05 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 3.40 and a beta of 1.09. The company has a fifty day simple moving average of $239.23 and a 200 day simple moving average of $231.87. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a 12-month low of $167.73 and a 12-month high of $263.37.

CDW (NASDAQ:CDWGet Free Report) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. On average, equities research analysts anticipate that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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