CDW Co. (NASDAQ:CDW) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its position in CDW Co. (NASDAQ:CDW) by 18.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,860 shares of the information technology services provider’s stock after selling 4,030 shares during the period. Empowered Funds LLC’s holdings in CDW were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Canoe Financial LP bought a new position in CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC boosted its position in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of CDW in the third quarter worth $43,000. Covestor Ltd increased its holdings in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of CDW during the third quarter valued at about $90,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective 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 increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. 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.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Performance

CDW opened at $187.59 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $25.00 billion, a PE ratio of 23.54, a P/E/G ratio of 5.40 and a beta of 1.01. The business has a fifty day simple moving average of $184.72 and a 200-day simple moving average of $201.25. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

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 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, equities analysts predict that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.33%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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

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.