Bahl & Gaynor Inc. Sells 8,036 Shares of CDW Co. (NASDAQ:CDW)

Bahl & Gaynor Inc. reduced its position in shares of CDW Co. (NASDAQ:CDW) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 612,541 shares of the information technology services provider’s stock after selling 8,036 shares during the quarter. Bahl & Gaynor Inc.’s holdings in CDW were worth $139,243,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDW. Citigroup boosted their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Down 0.5 %

NASDAQ:CDW opened at $242.26 on Friday. CDW Co. has a 1-year low of $162.59 and a 1-year high of $263.37. The firm’s 50-day moving average price is $247.23 and its 200-day moving average price is $228.31. The company has a market capitalization of $32.55 billion, a PE ratio of 29.91, a P/E/G ratio of 2.76 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 (NASDAQ:CDW) last announced 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 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 the consensus estimate of $5.32 billion. During the same period in the prior year, the firm posted $2.40 EPS. CDW’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts predict that CDW Co. will post 9.89 EPS for the current fiscal year.

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

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

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.