IFP Advisors Inc Lowers Stock Position in CDW Co. (NASDAQ:CDW)

IFP Advisors Inc lowered its position in shares of CDW Co. (NASDAQ:CDW) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,031 shares of the information technology services provider’s stock after selling 232 shares during the quarter. IFP Advisors Inc’s holdings in CDW were worth $533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in shares of CDW by 10.7% in the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of CDW by 7.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after purchasing an additional 451 shares during the last quarter. abrdn plc raised its position in shares of CDW by 31.4% in the 3rd quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock worth $12,409,000 after purchasing an additional 13,079 shares during the last quarter. Diversify Wealth Management LLC raised its position in shares of CDW by 16.6% in the 3rd quarter. Diversify Wealth Management LLC now owns 2,221 shares of the information technology services provider’s stock worth $483,000 after purchasing an additional 317 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of CDW by 16.9% in the 3rd quarter. Congress Asset Management Co. now owns 65,558 shares of the information technology services provider’s stock worth $14,836,000 after purchasing an additional 9,491 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

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

CDW Trading Down 0.4 %

CDW stock opened at $178.20 on Friday. The business has a 50-day simple moving average of $186.73 and a two-hundred day simple moving average of $199.29. The company has a market cap of $23.61 billion, a P/E ratio of 22.36, 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 quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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%. Analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business 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 of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in 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 often an indication that the company’s management believes its stock is 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.