Zuckerman Investment Group LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Zuckerman Investment Group LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 80.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,927 shares of the information technology services provider’s stock after selling 48,163 shares during the period. Zuckerman Investment Group LLC’s holdings in CDW were worth $2,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Treasurer of the State of North Carolina boosted its holdings in shares of CDW by 0.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 60,655 shares of the information technology services provider’s stock valued at $10,556,000 after acquiring an additional 270 shares during the period. Capital Fund Management S.A. acquired a new stake in CDW during the 4th quarter valued at $7,930,000. Phoenix Financial Ltd. grew its stake in CDW by 21.7% in the fourth quarter. Phoenix Financial Ltd. now owns 1,753 shares of the information technology services provider’s stock worth $305,000 after purchasing an additional 313 shares in the last quarter. Bessemer Group Inc. boosted its position in CDW by 47.5% during the 4th quarter. Bessemer Group Inc. now owns 1,126,491 shares of the information technology services provider’s stock valued at $196,054,000 after purchasing an additional 362,681 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of CDW during the fourth quarter valued at about $27,243,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW opened at $159.48 on Thursday. The firm has a 50 day moving average of $174.25 and a 200 day moving average of $187.01. CDW Co. has a twelve month low of $137.31 and a twelve month high of $250.42. The company has a market capitalization of $21.13 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last issued its 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%. As a group, equities research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

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

CDW Company 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.