Fulton Bank N.A. Sells 193 Shares of CDW Co. (NASDAQ:CDW)

Posted by on Mar 18th, 2023

Fulton Bank N.A. lessened its position in CDW Co. (NASDAQ:CDW – Get Rating) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,115 shares of the information technology services provider’s stock after selling 193 shares during the period. Fulton Bank N.A.’s holdings in CDW were worth $556,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CDW. SeaCrest Wealth Management LLC bought a new stake in CDW in the 2nd quarter worth $40,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of CDW during the 3rd quarter valued at about $61,000. Knights of Columbus Asset Advisors LLC bought a new stake in shares of CDW during the 3rd quarter valued at about $62,000. NuWave Investment Management LLC bought a new stake in shares of CDW during the 3rd quarter valued at about $72,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of CDW during the 3rd quarter valued at about $76,000. Institutional investors own 92.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Citigroup lifted their price target on shares of CDW from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Credit Suisse Group lifted their price target on shares of CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Morgan Stanley lifted their price target on shares of CDW from $217.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, December 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.86.

Insider Activity at CDW

In related news, Director Donna F. Zarcone sold 4,703 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $203.23, for a total transaction of $955,790.69. Following the completion of the sale, the director now directly owns 18,058 shares in the company, valued at $3,669,927.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by company insiders.

CDW Stock Down 2.9 %

CDW opened at $188.05 on Friday. 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 50 day moving average price of $199.07 and a 200-day moving average price of $182.80. CDW Co. has a twelve month low of $147.91 and a twelve month high of $215.00. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.48 and a beta of 1.13.

CDW (NASDAQ:CDW – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share 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 firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.87 earnings per share for the current year.

CDW Dividend Announcement

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

CDW declared that its board has authorized a share buyback program 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 programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CDW Profile

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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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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