CDW Co. (NASDAQ:CDW) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC raised its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,284 shares of the information technology services provider's stock after buying an additional 13,501 shares during the quarter. Gotham Asset Management LLC's holdings in CDW were worth $9,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. Vanguard Group Inc. lifted its position in shares of CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after purchasing an additional 99,947 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. lifted its position in shares of CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after purchasing an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 0.3%

CDW stock traded up $0.60 during trading hours on Friday, reaching $189.03. The stock had a trading volume of 961,249 shares, compared to its average volume of 1,218,051. The company has a market cap of $24.89 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business's 50 day moving average price is $162.72 and its 200-day moving average price is $176.90. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26.

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

CDW Dividend Announcement

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

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

Wall Street Analyst Weigh In

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

Insider Activity at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is 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.