Schechter Investment Advisors LLC Sells 900 Shares of CDW Co. (NASDAQ:CDW)

Schechter Investment Advisors LLC lowered its position in shares of CDW Co. (NASDAQ:CDW) by 37.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,476 shares of the information technology services provider’s stock after selling 900 shares during the quarter. Schechter Investment Advisors LLC’s holdings in CDW were worth $257,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CDW. SRS Capital Advisors Inc. raised its stake in shares of CDW by 276.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 831 shares of the information technology services provider’s stock valued at $145,000 after acquiring an additional 610 shares during the last quarter. Norden Group LLC increased its holdings in CDW by 19.0% during the 4th quarter. Norden Group LLC now owns 4,701 shares of the information technology services provider’s stock valued at $818,000 after purchasing an additional 751 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in CDW by 19.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 779 shares of the information technology services provider’s stock valued at $135,000 after purchasing an additional 129 shares in the last quarter. Jacobi Capital Management LLC raised its position in CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 61 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in CDW by 5.1% in the fourth quarter. Metis Global Partners LLC now owns 4,516 shares of the information technology services provider’s stock worth $786,000 after purchasing an additional 221 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 0.7 %

CDW opened at $172.59 on Thursday. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $186.64 and a 200 day simple moving average of $198.10.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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.