CDW Co. (NASDAQ:CDW) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 18.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 100,778 shares of the information technology services provider’s stock after selling 23,090 shares during the quarter. Corient Private Wealth LLC’s holdings in CDW were worth $17,539,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC grew its position in shares of CDW by 13.5% during the fourth quarter. Natixis Advisors LLC now owns 294,840 shares of the information technology services provider’s stock worth $51,314,000 after buying an additional 34,965 shares in the last quarter. Hills Bank & Trust Co boosted its holdings in CDW by 1.1% in the fourth quarter. Hills Bank & Trust Co now owns 12,357 shares of the information technology services provider’s stock worth $2,151,000 after purchasing an additional 140 shares during the period. Intact Investment Management Inc. boosted its holdings in CDW by 129.2% in the fourth quarter. Intact Investment Management Inc. now owns 5,500 shares of the information technology services provider’s stock worth $957,000 after purchasing an additional 3,100 shares during the period. Mondrian Investment Partners LTD boosted its holdings in CDW by 22.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 693,175 shares of the information technology services provider’s stock worth $120,640,000 after purchasing an additional 126,106 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in CDW in the fourth quarter worth $130,996,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CDW shares. 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 report on Tuesday, January 7th. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Price Performance

Shares of CDW stock opened at $170.76 on Wednesday. The company’s 50-day moving average price is $185.18 and its two-hundred day moving average price is $194.11. The stock has a market cap of $22.62 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.46%. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is 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.