Moran Wealth Management LLC Decreases Holdings in CDW Co. (NASDAQ:CDW)

Moran Wealth Management LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,269 shares of the information technology services provider’s stock after selling 1,073 shares during the period. Moran Wealth Management LLC’s holdings in CDW were worth $4,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted 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 buying an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its position in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in CDW in the 3rd quarter valued at about $43,000. Finally, Canoe Financial LP boosted its position in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Performance

Shares of CDW stock opened at $169.51 on Tuesday. The firm has a market cap of $22.46 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $164.98 and a 1 year high of $263.37. The firm’s 50-day simple moving average is $186.22 and its 200-day simple moving average is $197.00. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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.