USS Investment Management Ltd Sells 3,225 Shares of CDW Co. (NASDAQ:CDW)

USS Investment Management Ltd lessened its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,594 shares of the information technology services provider's stock after selling 3,225 shares during the quarter. USS Investment Management Ltd's holdings in CDW were worth $5,151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CDW. Allworth Financial LP boosted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC boosted its position in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Jacobi Capital Management LLC boosted its position in CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after purchasing an additional 61 shares during the period. Finally, Resonant Capital Advisors LLC raised its stake in CDW by 1.7% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock valued at $735,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

Shares of CDW traded down $0.52 during midday trading on Wednesday, reaching $185.20. The stock had a trading volume of 235,732 shares, compared to its average volume of 1,217,988. The firm's 50 day moving average price is $165.42 and its 200-day moving average price is $176.04. The company has a market capitalization of $24.39 billion, a P/E ratio of 23.20, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26.

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, topping 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.35%. CDW's dividend payout ratio is 30.98%.

CDW announced that its board has initiated a stock 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 shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on CDW. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Citigroup lifted their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. UBS Group cut their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays cut their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.38.

Insider Activity

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

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.