Glenview Trust co Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Glenview Trust co trimmed its position in CDW Co. (NASDAQ:CDW) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,885 shares of the information technology services provider’s stock after selling 118 shares during the quarter. Glenview Trust co’s holdings in CDW were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after acquiring an additional 56 shares in the last quarter. OneAscent Wealth Management LLC boosted its holdings in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Finally, Fulcrum Equity Management boosted its holdings in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $170.63 on Tuesday. The company’s fifty day moving average price is $185.39 and its 200-day moving average price is $194.50. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market cap of $22.61 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four investment 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 currently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW 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.