Sawyer & Company Inc Sells 70 Shares of CDW Co. (NASDAQ:CDW)

Posted by Jared Coughlin on Mar 19th, 2023

Sawyer & Company Inc cut its stake in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,566 shares of the information technology services provider’s stock after selling 70 shares during the quarter. CDW makes up about 2.0% of Sawyer & Company Inc’s portfolio, making the stock its 16th largest position. Sawyer & Company Inc’s holdings in CDW were worth $4,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in shares of CDW in the second quarter valued at $40,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of CDW in the third quarter valued at $61,000. Knights of Columbus Asset Advisors LLC bought a new position in shares of CDW in the third quarter valued at $62,000. NuWave Investment Management LLC purchased a new stake in shares of CDW in the third quarter valued at about $72,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of CDW in the third quarter valued at about $76,000. 92.78% of the stock is owned by institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $188.05 on Friday. The company’s 50 day moving average is $199.07 and its 200-day moving average is $182.86. CDW Co. has a 12-month low of $147.91 and a 12-month high of $215.00. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66. The firm has a market cap of $25.50 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13.

CDW (NASDAQ:CDW – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. CDW had a net margin of 4.69% and a return on equity of 103.95%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that CDW Co. will post 9.87 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 29.03%.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 8th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CDW. Morgan Stanley increased their target price on shares of CDW from $217.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Raymond James raised their price objective on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Credit Suisse Group lifted their price objective on shares of CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. Finally, StockNews.com initiated coverage on shares of CDW in a research report on Thursday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $221.86.

Insider Buying and Selling

In related news, Director Donna F. Zarcone sold 4,703 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $203.23, for a total value of $955,790.69. Following the completion of the transaction, the director now directly owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

About CDW

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CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.