IFP Advisors Inc Sells 232 Shares of CDW Co. (NASDAQ:CDW)

IFP Advisors Inc cut its holdings in CDW Co. (NASDAQ:CDW) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 3,031 shares of the information technology services provider’s stock after selling 232 shares during the quarter. IFP Advisors Inc’s holdings in CDW were worth $533,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new position in CDW in the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new position in CDW in the 3rd quarter worth approximately $172,217,000. Assenagon Asset Management S.A. lifted its holdings in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Finally, Unigestion Holding SA lifted its holdings in CDW by 917.4% in the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock worth $39,021,000 after purchasing an additional 155,517 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CDW. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $178.20 on Friday. The stock’s fifty day moving average is $186.73 and its 200 day moving average is $199.29. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm has a market capitalization of $23.61 billion, a PE ratio of 22.36, a PEG ratio of 3.21 and a beta of 1.01. 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 (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, 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, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW’s payout ratio is presently 31.37%.

About CDW

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.