Vaughan Nelson Investment Management L.P. Sells 55,780 Shares of CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,833 shares of the information technology services provider’s stock after selling 55,780 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in CDW were worth $22,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Canoe Financial LP purchased a new stake in CDW during the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC boosted its position in shares of CDW by 350.0% during the third 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 last quarter. Ashton Thomas Securities LLC purchased a new position in CDW during the third quarter valued at $43,000. Covestor Ltd increased its holdings in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in CDW in the 4th quarter worth $69,000. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 3.9 %

Shares of CDW opened at $192.02 on Monday. 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 business has a fifty day moving average of $183.86 and a 200 day moving average of $201.96. The company has a market cap of $25.59 billion, a PE ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, sell-side analysts expect that CDW Co. will post 9.35 EPS for the current year.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CDW shares. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.