Blue Trust Inc. Decreases Stake in CDW Co. (NASDAQ:CDW)

Blue Trust Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 47.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 716 shares of the information technology services provider’s stock after selling 653 shares during the quarter. Blue Trust Inc.’s holdings in CDW were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in CDW by 2.1% during the 3rd quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock worth $3,226,000 after buying an additional 297 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in CDW by 184.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock valued at $4,854,000 after acquiring an additional 13,902 shares in the last quarter. Private Advisor Group LLC raised its position in CDW by 10.7% during the third quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock valued at $839,000 after acquiring an additional 359 shares in the last quarter. International Assets Investment Management LLC purchased a new position in CDW during the third quarter valued at approximately $174,040,000. Finally, Brighton Jones LLC purchased a new position in CDW during the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDW. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their price target 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ CDW opened at $186.50 on Friday. The stock’s fifty day moving average is $186.14 and its two-hundred day moving average is $200.09. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm has a market capitalization of $24.85 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly 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%. On average, research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio is currently 31.37%.

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.