Resonant Capital Advisors LLC Lowers Holdings in CDW Co. (NASDAQ:CDW)

Resonant Capital Advisors LLC decreased its holdings in CDW Co. (NASDAQ:CDW) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,101 shares of the information technology services provider’s stock after selling 429 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CDW were worth $932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of CDW by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock valued at $2,812,692,000 after purchasing an additional 196,216 shares during the period. State Street Corp boosted its stake in shares of CDW by 3.0% in the first quarter. State Street Corp now owns 5,281,252 shares of the information technology services provider’s stock valued at $1,029,263,000 after purchasing an additional 156,066 shares during the period. Geode Capital Management LLC boosted its stake in shares of CDW by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider’s stock valued at $560,247,000 after purchasing an additional 63,457 shares during the period. Morgan Stanley boosted its stake in shares of CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after purchasing an additional 1,383,869 shares during the period. Finally, Northern Trust Corp lifted its stake in CDW by 1.6% in 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 acquiring an additional 20,345 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of a number of recent research reports. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Up 0.0 %

Shares of NASDAQ:CDW opened at $235.78 on Friday. The company has a market capitalization of $31.68 billion, a PE ratio of 29.11, a P/E/G ratio of 2.67 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a twelve month low of $161.53 and a twelve month high of $263.37. The firm has a 50 day simple moving average of $247.22 and a 200-day simple moving average of $227.29.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. 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 1.05%. CDW’s payout ratio is 30.62%.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.