Compass Ion Advisors LLC Lowers Holdings in CDW Co. (NASDAQ:CDW)

Compass Ion Advisors LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 3.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,978 shares of the information technology services provider’s stock after selling 316 shares during the quarter. Compass Ion Advisors LLC’s holdings in CDW were worth $1,388,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CDW. Intech Investment Management LLC lifted its stake in shares of CDW by 1,080.2% during the 4th quarter. Intech Investment Management LLC now owns 115,307 shares of the information technology services provider’s stock worth $20,068,000 after purchasing an additional 105,537 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of CDW by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 610,948 shares of the information technology services provider’s stock worth $106,356,000 after purchasing an additional 11,048 shares during the last quarter. PDS Planning Inc lifted its stake in shares of CDW by 18.9% during the 4th quarter. PDS Planning Inc now owns 1,410 shares of the information technology services provider’s stock worth $245,000 after purchasing an additional 224 shares during the last quarter. Signaturefd LLC lifted its stake in shares of CDW by 2.7% during the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after purchasing an additional 72 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in shares of CDW by 13.5% during the 4th quarter. Cibc World Markets Corp now owns 23,972 shares of the information technology services provider’s stock worth $4,172,000 after purchasing an additional 2,842 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDW. Morgan Stanley upped 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 price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays increased their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Trading Up 0.1 %

CDW stock opened at $170.76 on Wednesday. The stock has a 50-day moving average of $185.18 and a two-hundred day moving average of $194.11. 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 Co. has a one year low of $162.84 and a one year high of $263.37. The stock has a market cap of $22.62 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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, research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The company 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. This represents a $2.50 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

About CDW

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.