Boston Financial Mangement LLC Cuts Stock Position in CDW Co. (NASDAQ:CDW)

Boston Financial Mangement LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 77.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,663 shares of the information technology services provider’s stock after selling 143,130 shares during the period. Boston Financial Mangement LLC’s holdings in CDW were worth $7,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDW. PDS Planning Inc raised its stake in CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares during the last quarter. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC raised its stake in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after purchasing an additional 56 shares during the last quarter. OneAscent Wealth Management LLC lifted its holdings in shares of CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Fulcrum Equity Management grew its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 1.1 %

CDW stock opened at $194.50 on Thursday. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.16 and a beta of 1.01. The stock’s fifty day moving average is $185.64 and its two-hundred day moving average is $200.28. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors 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 1.29%. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding 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 generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has a consensus 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.