Laird Norton Wetherby Wealth Management LLC Has $785,000 Stake in CDW Co. (NASDAQ:CDW)

Laird Norton Wetherby Wealth Management LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 5.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,511 shares of the information technology services provider’s stock after selling 259 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in CDW were worth $785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in CDW by 10.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider’s stock worth $282,701,000 after acquiring an additional 157,747 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of CDW during the fourth quarter worth approximately $3,874,000. Gotham Asset Management LLC raised its position in shares of CDW by 33.1% during the fourth quarter. Gotham Asset Management LLC now owns 54,284 shares of the information technology services provider’s stock worth $9,448,000 after purchasing an additional 13,501 shares during the period. Graham Capital Management L.P. bought a new position in shares of CDW in the 4th quarter worth $214,000. Finally, FORA Capital LLC grew its position in CDW by 77.2% in the 4th quarter. FORA Capital LLC now owns 33,674 shares of the information technology services provider’s stock valued at $5,861,000 after purchasing an additional 14,671 shares during the period. 93.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

CDW Stock Down 0.7%

CDW stock opened at $189.36 on Thursday. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm’s 50-day simple moving average is $162.34 and its 200 day simple moving average is $177.11. The stock has a market cap of $24.94 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. Research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its board has approved a share repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW’s dividend payout ratio is currently 30.98%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent research reports. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Citigroup upped their target price on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, UBS Group lowered their price objective on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.38.

CDW 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.