Montag A & Associates Inc. Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Montag A & Associates Inc. cut its holdings in CDW Co. (NASDAQ:CDW) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,765 shares of the information technology services provider’s stock after selling 1,223 shares during the quarter. Montag A & Associates Inc.’s holdings in CDW were worth $4,658,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in CDW by 50.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock worth $543,000 after acquiring an additional 807 shares in the last quarter. Creative Planning increased its stake in shares of CDW by 2.1% during the third quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock worth $3,226,000 after purchasing an additional 297 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of CDW by 2.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,989 shares of the information technology services provider’s stock worth $676,000 after purchasing an additional 78 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in CDW by 4.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,049 shares of the information technology services provider’s stock valued at $690,000 after buying an additional 140 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in CDW by 0.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,620 shares of the information technology services provider’s stock worth $3,309,000 after buying an additional 126 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock opened at $189.39 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The company has a market capitalization of $25.24 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The firm’s 50-day moving average is $184.91 and its two-hundred day moving average is $200.74. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts predict that CDW Co. will post 9.35 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders 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 dividend yield of 1.32%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has approved a share buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several research reports. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. 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 report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $242.67.

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.