Summit Trail Advisors LLC Sells 206 Shares of CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,190 shares of the information technology services provider’s stock after selling 206 shares during the quarter. Summit Trail Advisors LLC’s holdings in CDW were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of CDW by 3.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,212 shares of the information technology services provider’s stock valued at $8,517,000 after buying an additional 1,406 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CDW by 9.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,825 shares of the information technology services provider’s stock valued at $4,807,000 after acquiring an additional 2,044 shares during the period. Strs Ohio lifted its holdings in shares of CDW by 4.9% during the third quarter. Strs Ohio now owns 7,804 shares of the information technology services provider’s stock worth $1,574,000 after purchasing an additional 361 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of CDW by 2.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 27,989 shares of the information technology services provider’s stock valued at $5,647,000 after acquiring an additional 614 shares during the last quarter. Finally, Foyston Gordon & Payne Inc raised its stake in shares of CDW by 7.4% during the 3rd quarter. Foyston Gordon & Payne Inc now owns 19,207 shares of the information technology services provider’s stock valued at $3,875,000 after buying an additional 1,316 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CDW shares. Citigroup cut their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Evercore ISI upped their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Stock Performance

Shares of NASDAQ CDW traded down $0.02 during mid-day trading on Tuesday, hitting $221.80. 166,761 shares of the company were exchanged, compared to its average volume of 715,283. The firm has a market cap of $29.81 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 1-year low of $164.62 and a 1-year high of $263.37. The stock has a 50 day simple moving average of $245.18 and a 200-day simple moving average of $229.60.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW announced that its board has initiated a share buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are 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.