EverSource Wealth Advisors LLC Reduces Stock Holdings in CDW Co. (NASDAQ:CDW)

EverSource Wealth Advisors LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 713 shares of the information technology services provider’s stock after selling 886 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CDW were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP increased 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 valued at $32,000 after buying 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 $32,000. Parkside Financial Bank & Trust raised its holdings 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 worth $36,000 after purchasing an additional 58 shares during the period. Canoe Financial LP lifted its position in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in CDW during the fourth quarter valued at about $69,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 2.2 %

Shares of CDW stock opened at $170.63 on Tuesday. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average price of $185.39 and a 200-day moving average price of $194.50. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.21 and a beta of 1.01.

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%. Equities research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. 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, CDW currently has a consensus rating of “Moderate Buy” and a consensus 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.