Schechter Investment Advisors LLC Sells 46 Shares of CDW Co. (NASDAQ:CDW)

Schechter Investment Advisors LLC cut its position in CDW Co. (NASDAQ:CDW) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,424 shares of the information technology services provider’s stock after selling 46 shares during the quarter. Schechter Investment Advisors LLC’s holdings in CDW were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Scotia Capital Inc. raised its stake in shares of CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after buying an additional 50 shares during the period. Diversified Trust Co grew its position in CDW by 4.6% during the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after buying an additional 51 shares in the last quarter. Phoenix Holdings Ltd. grew its position in CDW by 4.3% during the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after buying an additional 52 shares in the last quarter. Ballentine Partners LLC grew its position in CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after buying an additional 54 shares in the last quarter. Finally, TFC Financial Management Inc. grew its position in CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after buying an additional 55 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 1.5 %

CDW opened at $257.87 on Thursday. The business has a 50 day simple moving average of $241.40 and a two-hundred day simple moving average of $222.42. The firm has a market capitalization of $34.61 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.88 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a one year low of $160.66 and a one year high of $258.01.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share 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 firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business earned $2.40 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts predict that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued 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 dividend yield of 0.96%. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW announced that its board has authorized a stock repurchase program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays lifted their price target 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, Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price for the company. in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $228.60.

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.