Adage Capital Partners GP L.L.C. Sells 6,400 Shares of CDW Co. (NASDAQ:CDW)

Adage Capital Partners GP L.L.C. trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,500 shares of the information technology services provider's stock after selling 6,400 shares during the period. Adage Capital Partners GP L.L.C. owned 0.05% of CDW worth $12,096,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after acquiring an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the period. Fulcrum Equity Management raised its position in CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

CDW stock traded up $1.84 during trading on Thursday, hitting $162.40. The stock had a trading volume of 1,440,819 shares, compared to its average volume of 1,184,193. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock's 50 day moving average is $162.26 and its two-hundred day moving average is $180.09. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, analysts predict that CDW Co. will post 9.41 EPS for the current year.

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.54%. CDW's dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.38.

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.