44 Wealth Management LLC Sells 806 Shares of CDW Co. (NASDAQ:CDW)

44 Wealth Management LLC lessened its holdings in CDW Co. (NASDAQ:CDW) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,853 shares of the information technology services provider’s stock after selling 806 shares during the quarter. 44 Wealth Management LLC’s holdings in CDW were worth $1,367,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Creative Planning lifted its holdings in CDW by 2.1% in the 3rd quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock worth $3,226,000 after purchasing an additional 297 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CDW by 184.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock worth $4,854,000 after acquiring an additional 13,902 shares during the period. Private Advisor Group LLC lifted its position in CDW by 10.7% during the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after acquiring an additional 359 shares during the last quarter. International Assets Investment Management LLC bought a new stake in CDW during the third quarter valued at about $174,040,000. Finally, Brighton Jones LLC acquired a new stake in shares of CDW in the third quarter valued at about $209,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CDW. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Down 3.3 %

Shares of CDW opened at $186.50 on Friday. The stock has a 50 day simple moving average of $186.14 and a 200-day simple moving average of $200.09. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market cap of $24.85 billion, a PE ratio of 23.40, a PEG ratio of 3.24 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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 predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has initiated a stock repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.