CDW Co. (NASDAQ:CDW) Holdings Reduced by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,070 shares of the information technology services provider’s stock after selling 633 shares during the period. Synovus Financial Corp’s holdings in CDW were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP raised its stake in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Fulcrum Equity Management grew its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 0.6 %

CDW stock opened at $150.83 on Wednesday. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. CDW Co. has a 1 year low of $137.31 and a 1 year high of $248.12. The firm’s 50 day moving average price is $170.14 and its two-hundred day moving average price is $184.91. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Citigroup dropped their price objective on CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $224.88.

CDW Company 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.