ProShare Advisors LLC Has $36.88 Million Holdings in CDW Co. (NASDAQ:CDW)

ProShare Advisors LLC increased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,884 shares of the information technology services provider's stock after buying an additional 29,762 shares during the quarter. ProShare Advisors LLC owned about 0.16% of CDW worth $36,876,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new position in CDW during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its holdings in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the last quarter. Finally, Canoe Financial LP lifted its holdings in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CDW shares. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. 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 report on Thursday, April 17th. Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays lowered their target price 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. Finally, UBS Group lowered their target price on 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 assigned a buy rating to the company. Based on data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.38.

Insider Buying and Selling

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

CDW Price Performance

Shares of NASDAQ CDW traded down $0.99 during mid-day trading on Monday, reaching $188.04. The company had a trading volume of 912,576 shares, compared to its average volume of 1,218,452. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market cap of $24.76 billion, a PE ratio of 23.59, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a 50-day moving average price of $163.18 and a two-hundred day moving average price of $176.48. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26.

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

CDW Dividend Announcement

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

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

CDW 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.