CDW Co. (NASDAQ:CDW) Shares Sold by Shelton Capital Management

Shelton Capital Management reduced its stake in CDW Co. (NASDAQ:CDW) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,704 shares of the information technology services provider’s stock after selling 329 shares during the period. Shelton Capital Management’s holdings in CDW were worth $2,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Allworth Financial LP raised its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP lifted its stake 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 acquiring an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in CDW during the 4th quarter worth approximately $66,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 0.8 %

CDW opened at $146.03 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $137.31 and a 52 week high of $256.42. The business’s 50 day moving average is $175.81 and its two-hundred day moving average is $187.65. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) last announced its 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 net margin of 5.13% and a return on equity of 55.42%. On average, research analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.71%. CDW’s payout ratio is 31.37%.

CDW declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CDW. UBS Group decreased their price objective 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. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.