Whittier Trust Co. Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Whittier Trust Co. cut its stake in CDW Co. (NASDAQ:CDW) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450 shares of the information technology services provider’s stock after selling 101 shares during the period. Whittier Trust Co.’s holdings in CDW were worth $78,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust grew its stake 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 acquiring an additional 58 shares during the last quarter. Canoe Financial LP increased its holdings in CDW by 68.3% during the 4th 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, ORG Wealth Partners LLC acquired a new position in CDW during the fourth quarter worth about $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CDW. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Price Performance

CDW stock opened at $170.31 on Tuesday. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. 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 Co. has a 52-week low of $162.84 and a 52-week high of $263.37. The stock’s fifty day simple moving average is $184.19 and its 200-day simple moving average is $192.73.

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

CDW declared that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued 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 1.47%. CDW’s payout ratio is 31.37%.

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.