Kovitz Investment Group Partners LLC Sells 7,102 Shares of CDW Co. (NASDAQ:CDW)

Kovitz Investment Group Partners LLC trimmed its position in CDW Co. (NASDAQ:CDW - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,935 shares of the information technology services provider's stock after selling 7,102 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in CDW were worth $7,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Barclays PLC raised its position in CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock worth $261,779,000 after acquiring an additional 3,424 shares in the last quarter. Fulcrum Equity Management raised 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 valued at $326,000 after purchasing an additional 60 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in CDW by 18.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider's stock worth $572,000 after purchasing an additional 397 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CDW during the 3rd quarter worth $973,000. Finally, Franklin Resources Inc. boosted its holdings in CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after acquiring an additional 3,567 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Stock Performance

Shares of CDW stock traded up $4.39 during trading hours on Friday, hitting $166.79. The company's stock had a trading volume of 750,594 shares, compared to its average volume of 1,177,745. The stock has a market cap of $21.98 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The company has a 50 day moving average of $161.77 and a 200 day moving average of $179.67. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is currently 31.37%.

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.