Sawyer & Company Inc Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Sawyer & Company Inc trimmed its position in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 22,566 shares of the information technology services provider’s stock after selling 70 shares during the period. CDW accounts for 2.0% of Sawyer & Company Inc’s holdings, making the stock its 16th largest position. Sawyer & Company Inc’s holdings in CDW were worth $4,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDW. FMR LLC boosted its stake in shares of CDW by 89.8% in the 2nd quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock valued at $767,086,000 after buying an additional 2,303,669 shares during the period. California Public Employees Retirement System boosted its stake in shares of CDW by 109.4% in the 3rd quarter. California Public Employees Retirement System now owns 551,217 shares of the information technology services provider’s stock valued at $86,034,000 after buying an additional 287,957 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CDW by 109.7% in the 2nd quarter. Renaissance Technologies LLC now owns 500,398 shares of the information technology services provider’s stock valued at $78,843,000 after buying an additional 261,800 shares during the period. Cornerstone Investment Partners LLC purchased a new position in shares of CDW in the 3rd quarter valued at about $30,927,000. Finally, Vanguard Group Inc. boosted its stake in shares of CDW by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock valued at $2,812,692,000 after buying an additional 196,216 shares during the period. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CDW. Credit Suisse Group raised their target price on CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. raised their target price on CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. Morgan Stanley raised their target price on CDW from $217.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. StockNews.com began coverage on CDW in a research report on Thursday. They set a “hold” rating on the stock. Finally, Citigroup raised their target price on CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.86.

CDW Trading Down 2.9 %

CDW opened at $188.05 on Friday. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13. CDW Co. has a 52 week low of $147.91 and a 52 week high of $215.00. The business’s 50 day moving average is $199.07 and its two-hundred day moving average is $182.86. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66.

CDW (NASDAQ:CDW – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.48 by $0.02. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $6.19 billion. CDW had a return on equity of 103.95% and a net margin of 4.69%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. On average, research analysts predict that CDW Co. will post 9.87 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 23rd. CDW’s payout ratio is currently 29.03%.

CDW declared that its board has initiated a share buyback plan on Wednesday, February 8th 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 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Donna F. Zarcone sold 4,703 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total value of $955,790.69. Following the transaction, the director now owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.67% of the company’s stock.

CDW Company Profile

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CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.