CDW Co. (NASDAQ:CDW) Position Reduced by Ethic Inc.

Ethic Inc. trimmed its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,978 shares of the information technology services provider's stock after selling 2,945 shares during the period. Ethic Inc.'s holdings in CDW were worth $1,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock valued at $261,779,000 after purchasing an additional 3,424 shares during the last quarter. Czech National Bank raised its holdings in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after acquiring an additional 1,685 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of CDW by 9.1% during the 4th quarter. Trust Co. of Toledo NA OH now owns 1,787 shares of the information technology services provider's stock valued at $311,000 after acquiring an additional 149 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Finally, RDA Financial Network increased its position in CDW by 37.8% during the fourth quarter. RDA Financial Network now owns 2,256 shares of the information technology services provider's stock worth $393,000 after purchasing an additional 619 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Up 0.3%

NASDAQ:CDW traded up $0.60 during trading hours on Friday, hitting $189.03. The stock had a trading volume of 961,249 shares, compared to its average volume of 1,218,049. CDW Co. has a 1-year low of $137.31 and a 1-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 company 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. The business has a 50 day simple moving average of $162.72 and a two-hundred day simple moving average of $176.90.

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

CDW Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the firm's 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 completion of the sale, the insider now 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 disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

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.