Zuckerman Investment Group LLC Sells 48,163 Shares of CDW Co. (NASDAQ:CDW)

Zuckerman Investment Group LLC reduced its holdings in CDW Co. (NASDAQ:CDW) by 80.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,927 shares of the information technology services provider’s stock after selling 48,163 shares during the quarter. Zuckerman Investment Group LLC’s holdings in CDW were worth $2,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new stake in CDW during the 4th quarter worth $32,000. Parkside Financial Bank & Trust lifted its holdings in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in CDW in the 4th quarter worth $66,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a 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. Finally, UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Performance

CDW opened at $159.48 on Thursday. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.21 and a beta of 0.97. The company’s fifty day moving average price is $174.25 and its two-hundred day moving average price is $187.01. CDW Co. has a 1-year low of $137.31 and a 1-year high of $250.42. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.57%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its board has approved a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically 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.