CDW Co. (NASDAQ:CDW) Stake Cut by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC cut its position in shares of CDW Co. (NASDAQ:CDW) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,101 shares of the information technology services provider’s stock after selling 429 shares during the period. Resonant Capital Advisors LLC’s holdings in CDW were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after purchasing an additional 6,799 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of CDW by 44.9% during the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after purchasing an additional 4,511 shares during the period. Pacer Advisors Inc. increased its holdings in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after purchasing an additional 7,310 shares during the period. JGP Wealth Management LLC acquired a new position in CDW during the fourth quarter worth about $1,559,000. Finally, California Public Employees Retirement System grew its holdings in CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after acquiring an additional 7,854 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

NASDAQ CDW opened at $235.78 on Friday. The stock’s 50-day moving average price is $247.22 and its two-hundred day moving average price is $227.29. 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 company has a market cap of $31.68 billion, a PE ratio of 29.11, a PEG ratio of 2.67 and a beta of 1.09. CDW Co. has a 1 year low of $161.53 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 EPS. On average, analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW declared that its board has authorized a stock buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.05%. CDW’s dividend payout ratio (DPR) is presently 30.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Evercore ISI boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Citigroup boosted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.