Cerity Partners LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Cerity Partners LLC reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,009 shares of the information technology services provider’s stock after selling 4,292 shares during the period. Cerity Partners LLC’s holdings in CDW were worth $6,093,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CDW. Allworth Financial LP raised its stake in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% in the 4th 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 during the last quarter. Canoe Financial LP boosted its stake in CDW by 68.3% in the 4th 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 in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in CDW during the 4th quarter valued at about $66,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group decreased their target price 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. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Price Performance

Shares of CDW opened at $148.80 on Friday. The firm has a fifty day simple moving average of $172.21 and a two-hundred day simple moving average of $185.97. The firm has a market cap of $19.71 billion, a PE ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

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

CDW 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.