J.Safra Asset Management Corp Has $137,000 Stock Position in CDW Co. (NASDAQ:CDW)

J.Safra Asset Management Corp reduced its stake in CDW Co. (NASDAQ:CDW) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and 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 filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in shares of CDW in the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in CDW during the 4th quarter worth approximately $30,000. VisionPoint Advisory Group LLC bought a new stake in CDW during the 3rd quarter worth approximately $28,000. TFC Financial Management Inc. increased its position in CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Finally, ORG Partners LLC acquired a new position in CDW in the 4th quarter valued at approximately $36,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 1.1 %

Shares of CDW stock traded up $2.73 on Thursday, reaching $243.42. 752,697 shares of the company’s stock were exchanged, compared to its average volume of 696,630. The firm’s 50-day moving average is $247.22 and its two-hundred day moving average is $228.20. The company has a market capitalization 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. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a 52 week low of $162.59 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company posted $2.40 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW announced that its board has approved a stock buyback plan on Wednesday, February 7th that permits the company to buyback $750.00 million in 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 an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors 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 dividend payout ratio (DPR) is currently 30.62%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CDW. Barclays boosted their price objective 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. JPMorgan Chase & Co. lifted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup increased their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

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.