Benchmark Investment Advisors LLC Sells 238 Shares of CDW Co. (NASDAQ:CDW)

Benchmark Investment Advisors LLC reduced its position in CDW Co. (NASDAQ:CDW) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,802 shares of the information technology services provider’s stock after selling 238 shares during the period. Benchmark Investment Advisors LLC’s holdings in CDW were worth $1,010,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CDW. Centiva Capital LP purchased a new position in shares of CDW in the 3rd quarter valued at $447,000. Hilltop Holdings Inc. lifted its position in shares of CDW by 34.9% during the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock valued at $388,000 after buying an additional 443 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of CDW by 16.5% during the third quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider’s stock valued at $353,000 after buying an additional 231 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of CDW by 22.8% in the 3rd quarter. Quantinno Capital Management LP now owns 31,533 shares of the information technology services provider’s stock valued at $7,136,000 after buying an additional 5,859 shares in the last quarter. Finally, State Street Corp grew its position in shares of CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $144.49 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business has a fifty day moving average of $178.71 and a 200 day moving average of $189.30. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $141.80 and a 1 year high of $257.33.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in 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 typically a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW’s payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CDW shares. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $235.50.

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.