Deseret Mutual Benefit Administrators Lowers Position in CDW Co. (NASDAQ:CDW)

Deseret Mutual Benefit Administrators trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 27.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333 shares of the information technology services provider’s stock after selling 126 shares during the period. Deseret Mutual Benefit Administrators’ holdings in CDW were worth $58,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of CDW during the 4th quarter valued at about $174,000. Jacobson & Schmitt Advisors LLC raised its holdings in shares of CDW by 2.8% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock valued at $12,084,000 after buying an additional 1,861 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of CDW by 16.4% during the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $92,000 after buying an additional 75 shares in the last quarter. Venturi Wealth Management LLC grew its position in CDW by 9.0% during the 4th quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock worth $1,364,000 after acquiring an additional 649 shares during the last quarter. Finally, Citizens & Northern Corp grew its position in CDW by 2.9% during the 4th quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock worth $1,145,000 after acquiring an additional 187 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock opened at $186.50 on Friday. The firm has a market cap of $24.85 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The business’s 50 day moving average price is $186.14 and its 200-day moving average price is $200.03. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate 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 anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has authorized a stock buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The company 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 dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.