McElhenny Sheffield Capital Management LLC Purchases Shares of 5,073 CDW Co. (NASDAQ:CDW)

McElhenny Sheffield Capital Management LLC purchased a new stake in CDW Co. (NASDAQ:CDW – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,073 shares of the information technology services provider’s stock, valued at approximately $906,000.

Several other hedge funds also recently added to or reduced their stakes in CDW. Vestmark Advisory Solutions Inc. raised its position in shares of CDW by 205.0% in the third quarter. Vestmark Advisory Solutions Inc. now owns 11,998 shares of the information technology services provider’s stock worth $1,873,000 after acquiring an additional 8,064 shares during the period. Ensign Peak Advisors Inc raised its position in shares of CDW by 0.7% in the second quarter. Ensign Peak Advisors Inc now owns 42,231 shares of the information technology services provider’s stock worth $6,655,000 after acquiring an additional 281 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of CDW by 4.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,591 shares of the information technology services provider’s stock worth $13,982,000 after acquiring an additional 3,474 shares during the period. RDA Financial Network raised its position in shares of CDW by 9.2% in the third quarter. RDA Financial Network now owns 1,678 shares of the information technology services provider’s stock worth $262,000 after acquiring an additional 141 shares during the period. Finally, Ieq Capital LLC raised its position in shares of CDW by 163.9% in the third quarter. Ieq Capital LLC now owns 9,831 shares of the information technology services provider’s stock worth $1,534,000 after acquiring an additional 6,106 shares during the period. 92.78% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 2.9 %

Shares of CDW stock traded down $5.53 during mid-day trading on Friday, hitting $188.05. The stock had a trading volume of 1,622,270 shares, compared to its average volume of 851,067. The firm has a 50-day moving average of $199.07 and a two-hundred day moving average of $182.80. CDW Co. has a 12-month low of $147.91 and a 12-month high of $215.00. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66. The firm has a market cap of $25.50 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.13.

CDW (NASDAQ:CDW – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.02. CDW had a net margin of 4.69% and a return on equity of 103.95%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the company posted $1.98 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.87 earnings per share for the current year.

CDW Announces Dividend

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

CDW declared that its board has authorized a share buyback program on Wednesday, February 8th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CDW. Raymond James upped their price target on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Citigroup upped their price target on shares of CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. upped their price target on shares of CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. StockNews.com began coverage on shares of CDW in a research report on Thursday. They set a “hold” rating for the company. Finally, Credit Suisse Group upped their price target on shares of CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.86.

Insider Buying and Selling

In related news, Director Donna F. Zarcone sold 4,703 shares of the stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $203.23, for a total transaction of $955,790.69. Following the completion of the transaction, the director now owns 18,058 shares of the company’s stock, valued at approximately $3,669,927.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

CDW 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.