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

Glenview Trust co decreased its holdings in CDW Co. (NASDAQ:CDW) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CDW. Metis Global Partners LLC raised its position in CDW by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 4,295 shares of the information technology services provider’s stock worth $972,000 after buying an additional 74 shares during the last quarter. Empowered Funds LLC raised its position in CDW by 33.2% in the 3rd quarter. Empowered Funds LLC now owns 21,890 shares of the information technology services provider’s stock worth $4,954,000 after buying an additional 5,456 shares during the last quarter. Swiss National Bank raised its position in CDW by 0.4% in the 3rd quarter. Swiss National Bank now owns 398,900 shares of the information technology services provider’s stock worth $90,271,000 after buying an additional 1,500 shares during the last quarter. LMR Partners LLP purchased a new position in CDW in the 3rd quarter worth about $381,000. Finally, OneAscent Wealth Management LLC raised its position in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $170.63 on Tuesday. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.21 and a beta of 1.01. The company’s 50 day moving average is $185.39 and its two-hundred day moving average 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.

CDW (NASDAQ:CDW) last released its earnings results 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 net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDW. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the stock 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 on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.