Summit Trail Advisors LLC Has $498,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in CDW during the third quarter worth $25,000. Larson Financial Group LLC bought a new position in shares of CDW during the fourth quarter valued at about $30,000. VisionPoint Advisory Group LLC purchased a new position in CDW during the third quarter worth about $28,000. ORG Partners LLC bought a new stake in CDW in the 4th quarter worth about $36,000. Finally, Oakworth Capital Inc. purchased a new stake in CDW in the 4th quarter valued at about $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock traded down $0.02 during trading hours on Tuesday, reaching $221.80. The stock had a trading volume of 166,761 shares, compared to its average volume of 715,283. The stock’s fifty day simple moving average is $245.18 and its 200 day simple moving average is $229.60. The firm has a market capitalization of $29.81 billion, a PE ratio of 27.69, a PEG ratio of 3.16 and a beta of 1.09. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a 12 month low of $164.62 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.40 EPS. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that CDW Co. will post 9.89 EPS for the current year.

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

CDW Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.