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

Sentry Investment Management LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 14.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 501 shares of the information technology services provider’s stock after selling 82 shares during the quarter. Sentry Investment Management LLC’s holdings in CDW were worth $87,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. PDS Planning Inc lifted its stake in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares in the last quarter. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the fourth 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 during the last quarter. Summit Trail Advisors LLC lifted its position in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares in the last quarter. OneAscent Wealth Management LLC boosted its stake in CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares during the last quarter. Finally, Fulcrum Equity Management grew its holdings in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $179.00 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm has a market cap of $23.72 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.21 and a beta of 1.01. The firm’s 50 day moving average price is $186.73 and its 200-day moving average price is $199.29. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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%. As a group, equities research analysts predict that CDW Co. will post 9.41 EPS for the current year.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

Analyst Ratings Changes

CDW has been the topic of several analyst reports. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.67.

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.