Stratos Wealth Partners LTD. Has $597,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Stratos Wealth Partners LTD. lessened its position in CDW Co. (NASDAQ:CDW) by 54.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,430 shares of the information technology services provider’s stock after selling 4,023 shares during the period. Stratos Wealth Partners LTD.’s holdings in CDW were worth $597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canoe Financial LP bought a new position in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew its stake in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in CDW in the 3rd quarter worth about $43,000. Covestor Ltd grew its stake in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of CDW in the fourth quarter worth $69,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Up 0.1 %

CDW stock opened at $191.74 on Wednesday. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock has a fifty day simple moving average of $184.32 and a two-hundred day simple moving average of $201.43. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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%. Equities analysts predict that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has initiated a stock repurchase plan 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.