CDW Co. (NASDAQ:CDW) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC cut its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 73.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,529 shares of the information technology services provider's stock after selling 4,203 shares during the quarter. Connecticut Wealth Management LLC's holdings in CDW were worth $266,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. D. E. Shaw & Co. Inc. lifted its stake in shares of CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after acquiring an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. grew its holdings in CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after buying an additional 1,372,874 shares in the last quarter. Norges Bank purchased a new position in CDW in the fourth quarter worth $144,826,000. Madison Investment Advisors LLC purchased a new position in CDW in the fourth quarter worth $130,996,000. Finally, Proficio Capital Partners LLC lifted its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after buying an additional 683,446 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Down 0.4%

NASDAQ:CDW traded down $0.70 during trading hours on Wednesday, reaching $185.02. 271,056 shares of the stock were exchanged, compared to its average volume of 1,218,077. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average of $165.42 and a two-hundred day moving average of $176.04. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.92 earnings per share. On average, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

Insider Buying and Selling

In related 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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 144,931 shares of the company's stock, 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. Corporate insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays dropped their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, UBS Group dropped their target price on CDW from $236.00 to $210.00 and set a "buy" 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 issued a buy rating to the stock. According to data from MarketBeat.com, CDW has a consensus rating of "Moderate Buy" and an average target price of $216.38.

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.