Dana Investment Advisors Inc. Lowers Position in CDW Co. (NASDAQ:CDW)

Dana Investment Advisors Inc. cut its stake in shares of CDW Co. (NASDAQ:CDW) by 55.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,295 shares of the information technology services provider’s stock after selling 1,584 shares during the period. Dana Investment Advisors Inc.’s holdings in CDW were worth $225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its position in CDW by 39.7% during 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 in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of CDW in the third quarter valued at about $43,000. Canoe Financial LP lifted its position in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW opened at $168.37 on Monday. The business’s 50-day moving average is $186.22 and its 200 day moving average is $197.00. 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 Co. has a 12 month low of $164.98 and a 12 month high of $263.37. The company has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding 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 usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

Several brokerages have recently commented on CDW. Morgan Stanley boosted their price objective on 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 began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target 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.