Romano Brothers AND Company Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Romano Brothers AND Company trimmed its holdings in CDW Co. (NASDAQ:CDW) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,597 shares of the information technology services provider’s stock after selling 77 shares during the quarter. Romano Brothers AND Company’s holdings in CDW were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after buying an additional 1,383,869 shares in the last quarter. Norges Bank purchased a new stake in CDW in the 4th quarter worth approximately $66,992,000. The Manufacturers Life Insurance Company lifted its stake in CDW by 91.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after purchasing an additional 348,749 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in CDW in the 1st quarter valued at $63,265,000. Finally, Lazard Asset Management LLC grew its position in shares of CDW by 459.5% during the 3rd quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after purchasing an additional 207,184 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 2.1 %

CDW stock opened at $242.91 on Monday. The company has a market capitalization of $32.64 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.75 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a one year low of $160.66 and a one year high of $263.37. The company’s 50 day moving average price is $247.19 and its two-hundred day moving average price is $226.38.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.40 EPS. As a group, analysts predict that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 30.62%.

CDW declared that its board has initiated a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CDW shares. Citigroup increased their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Barclays raised their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.90.

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.