Foyston Gordon & Payne Inc Sells 205 Shares of CDW Co. (NASDAQ:CDW)

Foyston Gordon & Payne Inc trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,162 shares of the information technology services provider’s stock after selling 205 shares during the period. Foyston Gordon & Payne Inc’s holdings in CDW were worth $3,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of CDW by 39.7% during the 4th 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 period. Summit Trail Advisors LLC lifted its holdings in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after acquiring an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its position in CDW by 38.9% in the fourth 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 last quarter. Jacobi Capital Management LLC grew its stake in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 61 shares during the period. Finally, Resonant Capital Advisors LLC increased its position in shares of CDW by 1.7% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider’s stock valued at $735,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Trading Down 0.6 %

CDW stock opened at $178.94 on Friday. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The firm’s 50 day moving average price is $161.13 and its 200-day moving average price is $177.70. 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 stock has a market cap of $23.58 billion, a P/E ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 EPS. On average, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW declared that its Board of Directors has approved a share buyback program 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. This trade represents a 22.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

CDW 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.