Nicolet Advisory Services LLC Sells 1,258 Shares of CDW Co. (NASDAQ:CDW)

Nicolet Advisory Services LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,070 shares of the information technology services provider’s stock after selling 1,258 shares during the quarter. Nicolet Advisory Services LLC’s holdings in CDW were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in CDW in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust raised its position in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in CDW during the fourth quarter valued at approximately $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $144.49 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $178.71 and a 200 day simple moving average of $189.54. CDW Co. has a fifty-two week low of $141.80 and a fifty-two week high of $257.33. The firm has a market cap of $19.14 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.73%. CDW’s payout ratio is presently 31.37%.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on CDW shares. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.