Ensign Peak Advisors Inc Trims Position in CDW Co. (NASDAQ:CDW)

Ensign Peak Advisors Inc reduced its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,728 shares of the information technology services provider's stock after selling 9,755 shares during the quarter. Ensign Peak Advisors Inc's holdings in CDW were worth $8,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% during the fourth 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 last quarter. Optiver Holding B.V. increased its holdings in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the last quarter. Finally, Canoe Financial LP increased its holdings in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after buying an additional 112 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CDW shares. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group reduced their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Citigroup increased their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Barclays reduced their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective 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 investment 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 presently has an average rating of "Moderate Buy" and a consensus target price of $216.38.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on 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 owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The shares were 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 directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

CDW Price Performance

Shares of NASDAQ:CDW traded up $0.60 during midday trading on Friday, reaching $189.03. 961,249 shares of the company were exchanged, compared to its average volume of 1,219,999. CDW Co. has a one year low of $137.31 and a one 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. The business's fifty day moving average is $163.18 and its two-hundred day moving average is $176.69. The stock has a market cap of $24.89 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the business earned $1.92 earnings per share. CDW's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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

CDW declared that its board has approved a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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.