Mariner LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Mariner LLC lessened its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,237 shares of the information technology services provider's stock after selling 1,666 shares during the quarter. Mariner LLC's holdings in CDW were worth $4,914,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its stake 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 buying an additional 52 shares during the period. OFI Invest Asset Management bought a new position in CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust increased its position in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP boosted its holdings in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of CDW in the fourth quarter valued at approximately $66,000. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. 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 research note on Thursday, February 6th. UBS Group cut 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. Citigroup lowered their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Trading Down 1.4 %

NASDAQ:CDW traded down $2.27 on Friday, hitting $156.67. The stock had a trading volume of 198,114 shares, compared to its average volume of 1,469,538. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a fifty day moving average price of $164.84 and a two-hundred day moving average price of $181.85.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is currently 31.37%.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

About CDW

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.