EverSource Wealth Advisors LLC Decreases Stock Position in CDW Co. (NASDAQ:CDW)

EverSource Wealth Advisors LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 55.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 713 shares of the information technology services provider’s stock after selling 886 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CDW were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Canoe Financial LP boosted its position in shares of CDW by 68.3% during 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 during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of CDW during the fourth quarter valued at approximately $69,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CDW shares. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley upped their price target 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, Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 2.2 %

NASDAQ CDW opened at $170.63 on Tuesday. The company’s 50-day simple moving average is $185.39 and its two-hundred day simple moving average is $194.50. CDW Co. has a one year low of $162.84 and a one year high of $263.37. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. 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, 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%. Equities analysts forecast 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 was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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

CDW 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.