J.Safra Asset Management Corp Reduces Stock Position in CDW Co. (NASDAQ:CDW)

J.Safra Asset Management Corp trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 604 shares of the information technology services provider’s stock after selling 71 shares during the period. J.Safra Asset Management Corp’s holdings in CDW were worth $137,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Capital Investment Advisors LLC increased its holdings in CDW by 35.5% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock worth $312,000 after purchasing an additional 405 shares during the period. Meridian Wealth Management LLC boosted its stake in CDW by 3.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 63 shares during the period. Strategic Blueprint LLC lifted its position in CDW by 3.8% during the 3rd quarter. Strategic Blueprint LLC now owns 3,136 shares of the information technology services provider’s stock worth $633,000 after acquiring an additional 115 shares during the period. RDA Financial Network boosted its holdings in shares of CDW by 7.4% in the third quarter. RDA Financial Network now owns 1,806 shares of the information technology services provider’s stock valued at $364,000 after acquiring an additional 124 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of CDW in the third quarter valued at approximately $2,654,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW traded up $2.73 during trading hours on Thursday, hitting $243.42. The company had a trading volume of 752,697 shares, compared to its average volume of 696,630. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $247.22 and a 200-day simple moving average of $228.20. The firm has a market cap of $32.71 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts predict that CDW Co. will post 9.89 EPS for the current year.

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is currently 30.62%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays increased 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. Citigroup boosted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

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.