Yousif Capital Management LLC Trims Stock Position in CDW Co. (NASDAQ:CDW)

Yousif Capital Management LLC lowered its position in shares of CDW Co. (NASDAQ:CDW) by 4.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,159 shares of the information technology services provider’s stock after selling 763 shares during the period. Yousif Capital Management LLC’s holdings in CDW were worth $4,128,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Scotia Capital Inc. grew its stake in CDW by 1.5% during the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 50 shares in the last quarter. Diversified Trust Co grew its stake in CDW by 4.6% during the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after acquiring an additional 51 shares in the last quarter. Phoenix Holdings Ltd. grew its stake in CDW by 4.3% during the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 52 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in CDW by 4.5% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after acquiring an additional 53 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.5 %

Shares of CDW opened at $242.26 on Friday. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.76 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37. The firm has a 50 day moving average price of $247.23 and a 200-day moving average price of $228.31.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.89 earnings per share for the current year.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.02%. CDW’s payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Barclays lifted their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Citigroup lifted their target price 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 lifted their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.