Pine Valley Investments Ltd Liability Co Sells 200 Shares of CDW Co. (NASDAQ:CDW)

Pine Valley Investments Ltd Liability Co trimmed its holdings in CDW Co. (NASDAQ:CDW) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,328 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in CDW were worth $405,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC raised its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Allworth Financial LP grew 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 worth $32,000 after acquiring an additional 52 shares during the period. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter valued at $43,000. Covestor Ltd lifted its holdings in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the period. Finally, Canoe Financial LP boosted its position in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 1.3 %

CDW opened at $180.23 on Thursday. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 22.61, 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. The firm’s fifty day moving average is $186.62 and its 200 day moving average is $199.43. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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 return on equity of 55.42% and a net margin of 5.13%. On average, sell-side analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has initiated a stock 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 buy up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDW. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays lifted 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. Finally, Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

About CDW

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.