AEGON ASSET MANAGEMENT UK Plc Raises Holdings in CDW Co. (NASDAQ:CDW)

AEGON ASSET MANAGEMENT UK Plc increased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 56.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,690 shares of the information technology services provider's stock after purchasing an additional 24,439 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.05% of CDW worth $10,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the period. Geode Capital Management LLC boosted its position in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares in the last quarter. Wellington Management Group LLP raised its position in shares of CDW by 29.2% in the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. grew its holdings in shares of CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after acquiring an additional 575,333 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW stock traded down $1.05 during midday trading on Thursday, reaching $175.75. 1,130,118 shares of the stock traded hands, compared to its average volume of 1,224,682. The stock's fifty day moving average is $167.00 and its 200-day moving average is $175.81. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The stock has a market cap of $23.14 billion, a P/E ratio of 22.05, a PEG ratio of 3.21 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.92 earnings per share. As a group, equities research analysts anticipate 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. Shareholders of record on Monday, May 26th will be issued 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 1.42%. CDW's payout ratio is currently 30.98%.

CDW announced that its Board of Directors has approved a share buyback program 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 programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CDW shares. Morgan Stanley increased their price objective 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 CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup boosted their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price 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. Finally, Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and an average target price of $216.38.

Insiders Place Their Bets

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were 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 $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. This trade represents a 43.84% 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 company 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.