Sentry Investment Management LLC Lowers Stock Position in CDW Co. (NASDAQ:CDW)

Sentry Investment Management LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 703 shares of the information technology services provider’s stock after selling 76 shares during the quarter. Sentry Investment Management LLC’s holdings in CDW were worth $160,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CDW. Cambridge Investment Research Advisors Inc. lifted its stake in shares of CDW by 9.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock worth $1,165,000 after buying an additional 547 shares in the last quarter. Acadian Asset Management LLC bought a new stake in CDW in the 1st quarter worth about $103,000. Panagora Asset Management Inc. raised its position in CDW by 160.4% in the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after buying an additional 2,861 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of CDW by 0.3% during the first quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock valued at $3,671,000 after purchasing an additional 65 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of CDW by 1.5% in the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after buying an additional 515 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

CDW Stock Performance

NASDAQ CDW opened at $236.78 on Thursday. The business has a 50 day simple moving average of $247.57 and a two-hundred day simple moving average of $226.99. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a 1-year low of $160.66 and a 1-year high of $263.37. The stock has a market capitalization of $31.82 billion, a PE ratio of 29.23, a P/E/G ratio of 2.74 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company earned $2.40 earnings per share. CDW’s revenue was down 7.7% on a year-over-year basis. On average, research analysts predict that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Announces Dividend

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

CDW declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.