Siemens Fonds Invest GmbH Buys 7,103 Shares of CDW Co. (NASDAQ:CDW)

Siemens Fonds Invest GmbH grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 483.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,571 shares of the information technology services provider's stock after acquiring an additional 7,103 shares during the quarter. Siemens Fonds Invest GmbH's holdings in CDW were worth $1,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CDW during the 4th quarter worth approximately $23,999,000. Azzad Asset Management Inc. ADV increased its position in CDW by 41.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,903 shares of the information technology services provider's stock worth $1,375,000 after purchasing an additional 2,325 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in CDW during the 4th quarter worth approximately $3,874,000. Pullen Investment Management LLC acquired a new stake in CDW during the 4th quarter worth approximately $1,068,000. Finally, Mackenzie Financial Corp increased its position in CDW by 19.6% during the 4th quarter. Mackenzie Financial Corp now owns 23,693 shares of the information technology services provider's stock worth $4,124,000 after purchasing an additional 3,883 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded down $2.55 during trading hours on Friday, reaching $179.80. 1,046,284 shares of the company's stock were exchanged, compared to its average volume of 1,219,142. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The stock has a market capitalization of $23.68 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.21 and a beta of 0.91. The business has a fifty day moving average price of $166.24 and a 200-day moving average price of $175.80. 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 released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business posted $1.92 earnings per share. CDW's quarterly revenue was up 6.7% on a year-over-year basis. Analysts predict that CDW Co. will post 9.41 EPS for the current fiscal 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 paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

CDW declared that its board has initiated 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports 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. Citigroup increased their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. UBS Group lowered their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Barclays lowered 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 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. Based on data from MarketBeat, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

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.