Focus Partners Wealth Sells 3,259 Shares of CDW Co. (NASDAQ:CDW)

Focus Partners Wealth decreased its position in shares of CDW Co. (NASDAQ:CDW) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,583 shares of the information technology services provider’s stock after selling 3,259 shares during the quarter. Focus Partners Wealth owned about 0.11% of CDW worth $25,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDW. D. E. Shaw & Co. Inc. increased its holdings in shares of CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider’s stock valued at $352,411,000 after acquiring an additional 1,823,788 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider’s stock valued at $240,312,000 after acquiring an additional 1,372,874 shares in the last quarter. Norges Bank bought a new stake in shares of CDW during the fourth quarter valued at approximately $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $130,996,000. Finally, Proficio Capital Partners LLC boosted its position in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after buying an additional 683,446 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CDW shares. Citigroup lifted their target price on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group cut their target price on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, Barclays cut their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $216.38.

CDW Stock Down 0.6%

CDW stock opened at $178.94 on Monday. The stock’s fifty day simple moving average is $161.13 and its two-hundred day simple moving average is $177.13. 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 Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The stock has a market cap of $23.56 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s payout ratio is presently 30.98%.

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

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.84% of the company’s stock.

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.