Retireful LLC Sells 12,698 Shares of CDW Co. (NASDAQ:CDW)

Retireful LLC trimmed its position in CDW Co. (NASDAQ:CDW - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the information technology services provider's stock after selling 12,698 shares during the quarter. Retireful LLC's holdings in CDW were worth $1,393,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of CDW in the 3rd quarter worth about $25,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW in the 3rd quarter worth about $28,000. TFC Financial Management Inc. raised its holdings in shares of CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 55 shares during the period. Orion Capital Management LLC purchased a new stake in shares of CDW during the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of CDW during the 4th quarter valued at about $33,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. Citigroup raised their target price on CDW from $255.00 to $295.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley lowered CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price objective for the company. in a research note on Tuesday, December 12th. Barclays raised their price objective on CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a research note on Thursday, February 8th. Evercore ISI raised their price objective on CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised their price objective on CDW from $253.00 to $267.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.

CDW Stock Performance

CDW stock traded up $2.65 during mid-day trading on Friday, hitting $255.19. 984,438 shares of the company's stock traded hands, compared to its average volume of 599,346. The firm has a 50 day moving average price of $245.23 and a 200 day moving average price of $224.64. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The company has a market cap of $34.25 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 2.86 and a beta of 1.09. CDW Co. has a one year low of $160.66 and a one year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company's quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, February 23rd. CDW's dividend payout ratio is presently 30.62%.

CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.