Thoroughbred Financial Services LLC Lowers Holdings in CDW Co. (NASDAQ:CDW)

Thoroughbred Financial Services LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 26.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,826 shares of the information technology services provider’s stock after selling 1,370 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in CDW were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Centiva Capital LP bought a new stake in CDW in the 3rd quarter valued at $447,000. Hilltop Holdings Inc. grew its position in shares of CDW by 34.9% during the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock valued at $388,000 after purchasing an additional 443 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of CDW by 16.5% in the third quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider’s stock worth $353,000 after purchasing an additional 231 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of CDW by 22.8% in the third quarter. Quantinno Capital Management LP now owns 31,533 shares of the information technology services provider’s stock worth $7,136,000 after buying an additional 5,859 shares in the last quarter. Finally, State Street Corp boosted its stake in CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 4.7 %

Shares of NASDAQ CDW opened at $144.49 on Friday. CDW Co. has a 1 year low of $141.80 and a 1 year high of $257.33. The firm has a 50-day simple moving average of $178.71 and a two-hundred day simple moving average of $189.30. The company has a market cap of $19.14 billion, a P/E ratio of 18.13, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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%. Research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is presently 31.37%.

CDW announced that its board has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDW. UBS Group decreased their price objective 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 upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price 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.