Evercore Wealth Management LLC Sells 12,051 Shares of CDW Co. (NASDAQ:CDW)

Evercore Wealth Management LLC lowered its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 524,066 shares of the information technology services provider's stock after selling 12,051 shares during the period. CDW makes up approximately 1.4% of Evercore Wealth Management LLC's portfolio, making the stock its 25th largest position. Evercore Wealth Management LLC owned about 0.39% of CDW worth $91,208,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its position in CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP raised its position in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Invesco Ltd. lifted its stake in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after acquiring an additional 575,333 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

CDW has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced 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. Finally, Citigroup dropped their price target on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.38.

CDW Trading Down 0.7 %

CDW traded down $1.16 during mid-day trading on Monday, reaching $156.79. The stock had a trading volume of 433,834 shares, compared to its average volume of 1,178,929. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $20.66 billion, a P/E ratio of 19.67, a P/E/G ratio of 3.21 and a beta of 0.97. The firm's fifty day simple moving average is $164.15 and its two-hundred day simple moving average is $180.81. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.59%. CDW's payout ratio is presently 31.37%.

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

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.