CDW Co. (NASDAQ:CDW) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,491 shares of the information technology services provider’s stock after selling 1,141 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in CDW were worth $8,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fidelis Capital Partners LLC lifted its holdings in shares of CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after acquiring an additional 53 shares in the last quarter. Groesbeck Investment Management Corp NJ lifted its holdings in shares of CDW by 0.4% during the 4th quarter. Groesbeck Investment Management Corp NJ now owns 14,134 shares of the information technology services provider’s stock valued at $3,213,000 after acquiring an additional 56 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of CDW by 117.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 652 shares of the information technology services provider’s stock valued at $148,000 after acquiring an additional 352 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in CDW by 32.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 18,371 shares of the information technology services provider’s stock worth $4,176,000 after buying an additional 4,498 shares during the period. Finally, Oakworth Capital Inc. purchased a new stake in CDW during the 4th quarter worth $36,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock traded up $0.08 during midday trading on Friday, reaching $235.78. 593,249 shares of the stock traded hands, compared to its average volume of 704,251. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The firm has a fifty day moving average price of $247.22 and a two-hundred day moving average price of $227.29. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 2.68 and a beta of 1.09. CDW Co. has a fifty-two week low of $161.53 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 EPS. On average, equities research analysts forecast that CDW Co. will post 9.89 earnings per share for the current year.

CDW announced that its board has approved a share repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. CDW’s payout ratio is currently 30.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CDW shares. JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $238.90.

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.