CDW Co. (NASDAQ:CDW) Shares Sold by Israel Discount Bank of New York

Israel Discount Bank of New York decreased its position in CDW Co. (NASDAQ:CDW) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,033 shares of the information technology services provider’s stock after selling 119 shares during the quarter. Israel Discount Bank of New York’s holdings in CDW were worth $462,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CDW. OFI Invest Asset Management purchased a new position in shares of CDW during the third quarter worth approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in CDW in the 3rd quarter valued at $28,000. TFC Financial Management Inc. grew its position in CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares during the last quarter. Larson Financial Group LLC purchased a new position in CDW in the 4th quarter valued at $30,000. Finally, Orion Capital Management LLC purchased a new position in CDW in the 3rd quarter valued at $35,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CDW. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup upped their price objective on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Barclays increased their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their price objective on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

Shares of CDW stock traded up $3.22 during trading hours on Monday, reaching $245.48. The company’s stock had a trading volume of 325,756 shares, compared to its average volume of 688,362. The firm’s 50 day simple moving average is $247.25 and its 200-day simple moving average is $228.78. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.74 and a beta of 1.09. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.40 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts forecast that CDW Co. will post 9.89 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.01%. CDW’s dividend payout ratio (DPR) is currently 30.62%.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.