Hartford Investment Management Co. Lowers Stock Position in CDW Co. (NASDAQ:CDW)

Hartford Investment Management Co. lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,266 shares of the information technology services provider’s stock after selling 159 shares during the quarter. Hartford Investment Management Co.’s holdings in CDW were worth $1,439,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. PDS Planning Inc boosted its stake in CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after buying an additional 49 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the period. OneAscent Wealth Management LLC boosted its stake in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management boosted its stake in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of CDW by 4.6% in the third quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.0 %

Shares of NASDAQ:CDW opened at $189.39 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm’s 50 day moving average price is $184.91 and its 200 day moving average price is $200.96. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth 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 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, equities research analysts predict that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share 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 buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. CDW’s payout ratio is currently 31.37%.

Analyst Ratings Changes

Several research firms have recently commented on CDW. 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 note on Tuesday, January 7th. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Morgan Stanley raised 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price 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.