Stock Yards Bank & Trust Co. Sells 451 Shares of CDW Co. (NASDAQ:CDW)

Stock Yards Bank & Trust Co. lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 7.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,907 shares of the information technology services provider’s stock after selling 451 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $1,343,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of CDW during the third quarter valued at about $25,000. VisionPoint Advisory Group LLC bought a new position in shares of CDW in the third quarter valued at approximately $28,000. TFC Financial Management Inc. boosted its position in shares of CDW by 61.1% during the third 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. Orion Capital Management LLC bought a new stake in CDW during the third quarter worth $35,000. Finally, ORG Partners LLC purchased a new stake in CDW in the 4th quarter valued at $36,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 1.2 %

NASDAQ:CDW opened at $240.47 on Wednesday. The firm’s 50 day moving average is $247.13 and its 200 day moving average is $227.87. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37. The stock has a market capitalization of $32.31 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.69 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 (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company posted $2.40 EPS. CDW’s revenue was down 7.7% compared to the same quarter last year. Sell-side analysts expect that CDW Co. will post 9.89 earnings per share for the current year.

CDW announced that its board has authorized a stock buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding 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 an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors 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 yield of 1.03%. CDW’s dividend payout ratio (DPR) is 30.62%.

Analyst Upgrades and Downgrades

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

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.