Sanctuary Advisors LLC Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Sanctuary Advisors LLC trimmed its holdings in CDW Co. (NASDAQ:CDW) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,193 shares of the information technology services provider’s stock after selling 375 shares during the quarter. Sanctuary Advisors LLC’s holdings in CDW were worth $904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in CDW in the 4th quarter worth about $3,150,000. Congress Asset Management Co. grew its stake in CDW by 8.4% in the 4th quarter. Congress Asset Management Co. now owns 71,065 shares of the information technology services provider’s stock worth $12,368,000 after acquiring an additional 5,507 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of CDW by 19.7% during the fourth quarter. V Square Quantitative Management LLC now owns 1,286 shares of the information technology services provider’s stock worth $224,000 after acquiring an additional 212 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of CDW by 1.4% during the fourth quarter. Van ECK Associates Corp now owns 24,974 shares of the information technology services provider’s stock valued at $4,346,000 after acquiring an additional 355 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. UBS Group reduced their price target 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. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Down 0.7 %

Shares of CDW stock opened at $179.00 on Friday. 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 twelve month low of $168.43 and a twelve month high of $263.37. The stock has a 50 day moving average of $186.73 and a 200 day moving average of $199.29. The stock has a market cap of $23.72 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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%. As a group, sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s payout ratio is currently 31.37%.

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.