Mather Group LLC. Reduces Position in CDW Co. (NASDAQ:CDW)

Mather Group LLC. lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,001 shares of the information technology services provider’s stock after selling 565 shares during the period. Mather Group LLC.’s holdings in CDW were worth $696,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CDW. Cetera Investment Advisers boosted its position in shares of CDW by 33.4% during the second quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock valued at $2,886,000 after buying an additional 3,228 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of CDW during the second quarter valued at approximately $1,285,000. Czech National Bank boosted its position in shares of CDW by 6.2% during the third quarter. Czech National Bank now owns 27,210 shares of the information technology services provider’s stock valued at $6,158,000 after buying an additional 1,600 shares during the period. GAMMA Investing LLC boosted its position in shares of CDW by 10.8% during the third quarter. GAMMA Investing LLC now owns 1,892 shares of the information technology services provider’s stock valued at $428,000 after buying an additional 185 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in shares of CDW by 17.9% during the third quarter. Atomi Financial Group Inc. now owns 1,251 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDW. Morgan Stanley lifted their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $206.13 on Thursday. The company has a market capitalization of $27.47 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a 50 day moving average of $183.08 and a 200 day moving average of $202.65.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.33% and a return on equity of 58.31%. On average, sell-side analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.21%. CDW’s payout ratio is presently 30.56%.

CDW declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.