Litman Gregory Wealth Management LLC Sells 1,141 Shares of CDW Co. (NASDAQ:CDW)

Litman Gregory Wealth Management LLC lowered its stake in CDW Co. (NASDAQ:CDW) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,491 shares of the information technology services provider’s stock after selling 1,141 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in CDW were worth $8,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fidelis Capital Partners LLC lifted its position in CDW by 4.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. Groesbeck Investment Management Corp NJ lifted its position in CDW by 0.4% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 14,134 shares of the information technology services provider’s stock valued at $3,213,000 after purchasing an additional 56 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in CDW by 117.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 652 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 352 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in CDW by 32.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,371 shares of the information technology services provider’s stock valued at $4,176,000 after purchasing an additional 4,498 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in CDW in the fourth quarter valued at approximately $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock traded up $0.08 during trading on Friday, hitting $235.78. 593,249 shares of the company’s stock traded hands, compared to its average volume of 704,251. 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 1 year low of $161.53 and a 1 year high of $263.37. The stock has a market capitalization of $31.68 billion, a P/E ratio of 29.11, a PEG ratio of 2.68 and a beta of 1.09. The business has a 50-day simple moving average of $247.22 and a 200-day simple moving average of $227.29.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating 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 company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $2.40 earnings per share. CDW’s revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that CDW Co. will post 9.89 EPS for the current year.

CDW declared that its board has approved 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Barclays upped their target price on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup upped their price target on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Four investment 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 presently has an average rating of “Moderate Buy” and an average price target of $238.90.

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.