Cetera Investment Advisers Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Cetera Investment Advisers trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 48.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,782 shares of the information technology services provider's stock after selling 4,574 shares during the quarter. Cetera Investment Advisers' holdings in CDW were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CDW. Allworth Financial LP boosted its stake in shares of 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 buying an additional 52 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% in the 4th 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 period. Jacobi Capital Management LLC boosted its holdings in shares of CDW by 4.5% in 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 during the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of CDW by 1.7% in 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 during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CDW shares. Citigroup increased their price target on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. 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 lowered their price objective 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. Finally, UBS Group reduced their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company 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 company's stock. According to data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average price target of $216.38.

CDW Price Performance

Shares of NASDAQ:CDW traded down $0.99 during trading on Thursday, hitting $182.35. 617,254 shares of the company's stock were exchanged, compared to its average volume of 1,219,229. The business's 50-day simple moving average is $166.01 and its 200 day simple moving average is $175.99. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter last year, the business posted $1.92 earnings per share. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's payout ratio is currently 30.98%.

CDW announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 5th 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 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the transaction, the insider now directly owns 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

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.