CoreCap Advisors LLC Sells 295 Shares of CDW Co. (NASDAQ:CDW)

CoreCap Advisors LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 34.0% during the fourth quarter, HoldingsChannel reports. The firm owned 573 shares of the information technology services provider’s stock after selling 295 shares during the period. CoreCap Advisors LLC’s holdings in CDW were worth $100,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. Summit Trail Advisors LLC grew its position in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust grew its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares in the last quarter. Jacobi Capital Management LLC grew its position in CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after buying an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its position in CDW by 1.7% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider’s stock worth $735,000 after buying an additional 69 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Barclays decreased their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Citigroup lifted their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.38.

CDW Stock Up 1.0%

NASDAQ CDW opened at $190.68 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock’s 50 day moving average is $161.92 and its two-hundred day moving average is $177.03. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 3.21 and a beta of 0.91. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s payout ratio is currently 30.98%.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now directly owns 144,931 shares of the company’s stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is owned by company insiders.

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.