Johnson Investment Counsel Inc. Has $231,000 Stake in CDW Co. (NASDAQ:CDW)

Johnson Investment Counsel Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 36.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,328 shares of the information technology services provider’s stock after selling 767 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in CDW were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. grew its stake in shares of CDW by 37.3% during the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock worth $221,000 after buying an additional 265 shares during the last quarter. Covestor Ltd grew its position in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in CDW in the 3rd quarter worth about $43,000. Apollon Wealth Management LLC increased its holdings in CDW by 36.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider’s stock worth $665,000 after purchasing an additional 779 shares in the last quarter. Finally, Entropy Technologies LP raised its position in CDW by 42.0% in the third quarter. Entropy Technologies LP now owns 3,786 shares of the information technology services provider’s stock valued at $857,000 after purchasing an additional 1,120 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Down 1.9 %

CDW opened at $163.50 on Friday. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a fifty day moving average of $185.84 and a 200-day moving average of $195.95. The stock has a market cap of $21.66 billion, a PE ratio of 20.51, 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 (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDW. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.