CDW Co. (NASDAQ:CDW) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 12.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,289 shares of the information technology services provider’s stock after selling 178 shares during the period. Checchi Capital Advisers LLC’s holdings in CDW were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its position in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of CDW in the 3rd quarter worth about $43,000. Canoe Financial LP lifted 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 purchasing an additional 112 shares during the last quarter. Covestor Ltd boosted its stake in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in CDW in the 4th quarter worth about $69,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDW. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. 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, Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 0.7 %

CDW stock opened at $179.00 on Friday. The company’s 50 day simple moving average is $186.73 and its 200-day simple moving average is $199.29. The firm has a market capitalization 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. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate 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 anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. 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 Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are 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.