Mather Group LLC. Sells 565 Shares of CDW Co. (NASDAQ:CDW)

Mather Group LLC. lowered its position in CDW Co. (NASDAQ:CDW) by 12.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,001 shares of the information technology services provider’s stock after selling 565 shares during the period. Mather Group LLC.’s holdings in CDW were worth $696,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CDW. Cetera Investment Advisers raised its position in shares of CDW by 33.4% in the 2nd quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock worth $2,886,000 after acquiring an additional 3,228 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of CDW in the 2nd quarter worth approximately $1,285,000. Czech National Bank grew its stake in shares of CDW by 6.2% in the 3rd quarter. Czech National Bank now owns 27,210 shares of the information technology services provider’s stock worth $6,158,000 after buying an additional 1,600 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CDW by 10.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,892 shares of the information technology services provider’s stock worth $428,000 after buying an additional 185 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its stake in shares of CDW by 17.9% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,251 shares of the information technology services provider’s stock worth $283,000 after buying an additional 190 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley upped their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Trading Up 3.4 %

Shares of CDW stock opened at $206.13 on Thursday. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 5.39 and a beta of 1.01. The business has a 50-day moving average price of $183.08 and a 200-day moving average price of $202.65. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 58.31% and a net margin of 5.33%. Equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.21%. CDW’s dividend payout ratio is currently 30.56%.

CDW declared that its board has approved a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in 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 programs are usually 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.