Stock Yards Bank & Trust Co. Sells 451 Shares of CDW Co. (NASDAQ:CDW)

Stock Yards Bank & Trust Co. lessened its holdings in CDW Co. (NASDAQ:CDW) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,907 shares of the information technology services provider’s stock after selling 451 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $1,343,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Scotia Capital Inc. grew its stake in CDW by 1.5% in the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after buying an additional 50 shares during the last quarter. Diversified Trust Co lifted its position in shares of CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after purchasing an additional 51 shares during the last quarter. Phoenix Holdings Ltd. boosted its stake in CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 52 shares during the period. Fidelis Capital Partners LLC grew its holdings in CDW by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 53 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after buying an additional 54 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 1.2 %

NASDAQ CDW opened at $240.47 on Wednesday. The stock has a market capitalization of $32.31 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.69 and a beta of 1.09. The stock’s 50 day moving average price is $247.13 and its two-hundred day moving average price is $227.87. CDW Co. has a 52 week low of $162.59 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.40 earnings per share. As a group, analysts anticipate that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign 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 12th. Investors of record on Monday, February 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is 30.62%.

Analyst Ratings Changes

CDW has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays upped their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Citigroup increased their target price on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW 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.