Sei Investments Co. Sells 4,305 Shares of CDW Co. (NASDAQ:CDW)

Sei Investments Co. cut its holdings in CDW Co. (NASDAQ:CDW) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,508 shares of the information technology services provider’s stock after selling 4,305 shares during the period. Sei Investments Co.’s holdings in CDW were worth $7,746,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management acquired a new stake in CDW during the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP raised its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of CDW during the 4th quarter valued at $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 1.4 %

Shares of NASDAQ:CDW opened at $161.51 on Monday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 52-week low of $160.96 and a 52-week high of $263.37. The company has a market capitalization of $21.40 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a fifty day moving average of $182.40 and a 200-day moving average of $191.34.

CDW (NASDAQ:CDW) last posted 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%. On average, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

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

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 issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent analyst reports. Morgan Stanley raised their target price 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. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.