Moran Wealth Management LLC Has $17.41 Million Stake in CDW Co. (NASDAQ:CDW)

Moran Wealth Management LLC lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 18.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,589 shares of the information technology services provider's stock after purchasing an additional 11,755 shares during the period. Moran Wealth Management LLC owned approximately 0.06% of CDW worth $17,410,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in shares of CDW by 1.6% during the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider's stock worth $268,568,000 after buying an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of CDW by 3.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider's stock valued at $265,513,000 after purchasing an additional 41,472 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider's stock valued at $258,196,000 after purchasing an additional 33,235 shares in the last quarter. Barclays PLC grew its stake in shares of CDW by 2.1% during the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider's stock worth $205,014,000 after purchasing an additional 20,934 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in CDW by 2.5% in the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider's stock valued at $167,975,000 after buying an additional 20,152 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ CDW traded down $0.47 during trading on Tuesday, hitting $221.58. 605,758 shares of the company were exchanged, compared to its average volume of 717,901. The firm's fifty day moving average price is $242.77 and its 200 day moving average price is $230.39. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The company has a market cap of $29.78 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.27 and a beta of 1.09. CDW Co. has a 1 year low of $167.57 and a 1 year high of $263.37.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.12%. CDW's payout ratio is currently 30.96%.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDW. JPMorgan Chase & Co. decreased their price target on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus reduced their price objective on CDW from $265.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Evercore ISI increased their price target on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Barclays dropped their price objective on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Finally, Citigroup reduced their target price on shares of CDW from $295.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $247.50.

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.