Wells Fargo & Company MN Sells 66,939 Shares of CDW Co. (NASDAQ:CDW)

Wells Fargo & Company MN trimmed its position in CDW Co. (NASDAQ:CDW) by 35.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,171 shares of the information technology services provider’s stock after selling 66,939 shares during the quarter. Wells Fargo & Company MN’s holdings in CDW were worth $21,611,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Canoe Financial LP boosted its position in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of CDW during the fourth quarter worth $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 1.4 %

Shares of CDW opened at $148.80 on Friday. The stock’s 50-day moving average price is $172.21 and its two-hundred day moving average price is $185.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. The company has a market capitalization of $19.71 billion, a PE ratio of 18.67, a PEG ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CDW shares. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

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.