Dana Investment Advisors Inc. Trims Stock Holdings in CDW Co. (NASDAQ:CDW)

Dana Investment Advisors Inc. trimmed its holdings in CDW Co. (NASDAQ:CDW) by 55.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,295 shares of the information technology services provider’s stock after selling 1,584 shares during the period. Dana Investment Advisors Inc.’s holdings in CDW were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of CDW by 39.7% in the 4th 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 in the last quarter. Summit Trail Advisors LLC boosted its position in shares of CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after purchasing an additional 56 shares in the last quarter. OneAscent Wealth Management LLC boosted its position in shares of CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Finally, Fulcrum Equity Management boosted its position in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $168.37 on Monday. The stock has a 50-day simple moving average of $186.22 and a two-hundred day simple moving average of $197.00. The firm has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $164.98 and a fifty-two week high of $263.37. 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 data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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, equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. CDW’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

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

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.