Empowered Funds LLC Lowers Holdings in CDW Co. (NASDAQ:CDW)

Empowered Funds LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

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

CDW Price Performance

CDW opened at $187.59 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a 50-day moving average of $184.72 and a 200-day moving average of $201.25. The company has a market capitalization of $25.00 billion, a P/E ratio of 23.54, a PEG ratio of 5.40 and a beta of 1.01.

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

CDW declared that its board has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The business 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 1.33%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CDW shares. 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 objective for the company. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their price target 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. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.