CDW Co. (NASDAQ:CDW) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in CDW Co. (NASDAQ:CDW - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,693 shares of the information technology services provider's stock after acquiring an additional 3,883 shares during the period. Mackenzie Financial Corp's holdings in CDW were worth $4,124,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CDW. Orion Capital Management LLC purchased a new stake in shares of CDW during the fourth quarter worth about $30,000. Allworth Financial LP increased its stake 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 worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in shares of CDW by 107.2% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price 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. Citigroup upped their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Barclays dropped 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.38.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% 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.

CDW Price Performance

NASDAQ CDW traded down $2.55 during trading hours on Friday, hitting $179.80. 1,046,284 shares of the company's stock traded hands, compared to its average volume of 1,219,969. The firm's 50-day moving average is $166.24 and its 200-day moving average is $175.90. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. 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 company has a market capitalization of $23.68 billion, a PE ratio of 22.56, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share 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 analysts' expectations of $4.93 billion. During the same quarter in the prior year, the company posted $1.92 EPS. The business's revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. CDW's dividend payout ratio (DPR) is 30.98%.

CDW announced that its board has initiated a share buyback program 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership 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.