JFS Wealth Advisors LLC Sells 61 Shares of CDW Co. (NASDAQ:CDW)

JFS Wealth Advisors LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 484 shares of the information technology services provider’s stock after selling 61 shares during the quarter. JFS Wealth Advisors LLC’s holdings in CDW were worth $84,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Canoe Financial LP bought a new position in shares of CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the period. Allworth Financial LP raised its holdings in CDW by 39.7% in the 4th 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. Ashton Thomas Securities LLC bought a new stake in shares of CDW during the 3rd quarter valued at $43,000. Finally, Covestor Ltd grew its holdings in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

CDW Trading Up 1.0 %

Shares of CDW stock opened at $189.39 on Tuesday. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock’s fifty day simple moving average is $185.05 and its 200 day simple moving average is $200.45. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $25.24 billion, a P/E ratio of 23.76, a P/E/G ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that CDW Co. will post 9.35 EPS for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has authorized a share buyback plan 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.