CDW Co. (NASDAQ:CDW) Shares Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP grew its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 205.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,624 shares of the information technology services provider's stock after purchasing an additional 9,840 shares during the quarter. Occudo Quantitative Strategies LP's holdings in CDW were worth $2,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. increased its position in shares of CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in CDW in the fourth quarter worth about $130,996,000. Graphene Investments SAS lifted its stake in CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ CDW traded up $0.60 on Friday, hitting $189.03. 961,249 shares of the company traded hands, compared to its average volume of 1,219,999. The business's 50 day moving average price is $163.18 and its 200-day moving average price is $176.69. 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 Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 3.21 and a beta of 0.91.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW's payout ratio is currently 30.98%.

CDW announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CDW shares. JPMorgan Chase & Co. dropped their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Barclays lowered their price target 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. Citigroup upped their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group reduced their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.38.

Insider Activity at CDW

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

CDW Company 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.