Southeast Asset Advisors LLC Has $3.37 Million Position in CDW Co. (NASDAQ:CDW)

Southeast Asset Advisors LLC cut its stake in CDW Co. (NASDAQ:CDW) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,333 shares of the information technology services provider’s stock after selling 8,499 shares during the period. Southeast Asset Advisors LLC’s holdings in CDW were worth $3,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management acquired a new position in shares of CDW during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its position in shares of 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 acquiring an additional 58 shares during the period. Canoe Financial LP boosted its stake in shares of CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of CDW in the fourth quarter valued at about $66,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW opened at $144.49 on Monday. The stock has a market capitalization of $19.14 billion, a P/E ratio of 18.13, 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 Co. has a 12-month low of $141.80 and a 12-month high of $257.33. The stock has a 50-day moving average price of $178.71 and a 200-day moving average price of $189.07.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. Equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

CDW has been the subject of several analyst reports. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group reduced 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

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.