Focus Partners Wealth Sells 3,259 Shares of CDW Co. (NASDAQ:CDW)

Focus Partners Wealth trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 148,583 shares of the information technology services provider’s stock after selling 3,259 shares during the quarter. Focus Partners Wealth’s holdings in CDW were worth $25,883,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after purchasing an additional 99,947 shares during the period. Geode Capital Management LLC raised its stake in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP raised its stake in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares during the period. Invesco Ltd. increased its stake in CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after acquiring an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after acquiring an additional 575,333 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research analyst reports. Citigroup upped their target price on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays decreased their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $216.38.

Insider Transactions at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.84% of the company’s stock.

CDW Price Performance

CDW opened at $178.94 on Monday. The stock has a 50-day moving average price of $161.13 and a 200-day moving average price of $177.13. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. 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 capitalization of $23.56 billion, a P/E ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the business earned $1.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s payout ratio is currently 30.98%.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.