Tranquility Partners LLC Sells 1,008 Shares of CDW Co. (NASDAQ:CDW)

Tranquility Partners LLC trimmed its holdings in CDW Co. (NASDAQ:CDW) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,991 shares of the information technology services provider’s stock after selling 1,008 shares during the quarter. Tranquility Partners LLC’s holdings in CDW were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CDW. Scotia Capital Inc. increased its stake in CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after purchasing an additional 50 shares in the last quarter. Diversified Trust Co increased its stake in CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after purchasing an additional 51 shares in the last quarter. Phoenix Holdings Ltd. increased its stake in CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 52 shares in the last quarter. Ballentine Partners LLC increased its stake in CDW by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after purchasing an additional 54 shares in the last quarter. Finally, TFC Financial Management Inc. increased its stake in CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

CDW traded down $3.23 during trading hours on Wednesday, hitting $236.78. The company’s stock had a trading volume of 956,509 shares, compared to its average volume of 709,712. The business’s 50-day moving average price is $247.57 and its 200-day moving average price is $226.99. CDW Co. has a 12 month low of $160.66 and a 12 month high of $263.37. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.40 earnings per share. CDW’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts expect that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW declared that its board has authorized a share buyback plan on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $238.90.

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.