Schechter Investment Advisors LLC Decreases Position in CDW Co. (NASDAQ:CDW)

Schechter Investment Advisors LLC lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,424 shares of the information technology services provider’s stock after selling 46 shares during the period. Schechter Investment Advisors LLC’s holdings in CDW were worth $1,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JGP Wealth Management LLC acquired a new stake in shares of CDW during the 4th quarter valued at about $1,559,000. California Public Employees Retirement System increased its stake in CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after buying an additional 7,854 shares in the last quarter. Comerica Bank purchased a new stake in CDW during the 2nd quarter worth approximately $532,100,000. Amalgamated Bank increased its stake in CDW by 22.0% during the 3rd quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider’s stock worth $9,034,000 after buying an additional 8,063 shares in the last quarter. Finally, State Street Corp increased its stake in CDW by 2.1% during the 2nd quarter. State Street Corp now owns 5,391,296 shares of the information technology services provider’s stock worth $989,303,000 after buying an additional 110,044 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CDW. JPMorgan Chase & Co. upped their price target on CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Barclays upped their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Evercore ISI upped their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target for the company. in a research report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $228.60.

CDW Stock Up 1.5 %

NASDAQ:CDW opened at $257.87 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The stock’s fifty day moving average is $241.40 and its two-hundred day moving average is $222.42. CDW Co. has a 52 week low of $160.66 and a 52 week high of $258.01. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $2.40 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that CDW Co. will post 9.88 EPS for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management 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.