Sherbrooke Park Advisers LLC Invests $855,000 in CDW Co. (NASDAQ:CDW)

Sherbrooke Park Advisers LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,912 shares of the information technology services provider's stock, valued at approximately $855,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of CDW by 20.1% in the 4th quarter. Royal Bank of Canada now owns 470,318 shares of the information technology services provider's stock worth $81,853,000 after buying an additional 78,576 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of CDW by 21.9% in the 4th quarter. Rafferty Asset Management LLC now owns 118,994 shares of the information technology services provider's stock worth $20,710,000 after buying an additional 21,409 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of CDW in the 4th quarter worth approximately $42,557,000. ProShare Advisors LLC grew its position in shares of CDW by 16.3% in the 4th quarter. ProShare Advisors LLC now owns 211,884 shares of the information technology services provider's stock worth $36,876,000 after buying an additional 29,762 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in shares of CDW in the 4th quarter worth approximately $343,000. 93.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider now owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider now directly owns 144,931 shares of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

CDW Stock Down 0.5%

NASDAQ:CDW traded down $0.99 during trading hours on Monday, reaching $188.04. 912,576 shares of the company traded hands, compared to its average volume of 1,218,452. The business's 50-day moving average price is $163.60 and its two-hundred day moving average price is $176.48. The stock has a market capitalization of $24.76 billion, a P/E ratio of 23.59, a P/E/G ratio of 3.21 and a beta of 0.91. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. Analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has initiated a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Barclays cut their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $216.38.

About CDW

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.