Southeast Asset Advisors LLC Reduces Stake in CDW Co. (NASDAQ:CDW)

Southeast Asset Advisors LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 30.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,333 shares of the information technology services provider’s stock after selling 8,499 shares during the quarter. Southeast Asset Advisors LLC’s holdings in CDW were worth $3,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Allworth Financial LP raised its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. Summit Trail Advisors LLC raised its stake 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 worth $703,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings 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 buying an additional 58 shares during the period. Fulcrum Equity Management grew its holdings in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares during the period. Finally, Jacobi Capital Management LLC grew its holdings 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 worth $248,000 after acquiring an additional 61 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Trading Down 4.7 %

Shares of NASDAQ CDW opened at $144.49 on Monday. CDW Co. has a twelve month low of $141.80 and a twelve month high of $257.33. The firm has a market cap of $19.14 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business has a fifty day simple moving average of $178.71 and a two-hundred day simple moving average of $189.07. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. Analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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 dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW’s dividend payout ratio is presently 31.37%.

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.