CDW Co. (NASDAQ:CDW) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,594 shares of the information technology services provider's stock after selling 3,225 shares during the period. USS Investment Management Ltd's holdings in CDW were worth $5,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP raised its position in 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 acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised its position in 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 acquiring an additional 58 shares during the last quarter. Optiver Holding B.V. raised its position in 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 acquiring an additional 119 shares during the last quarter. Finally, Quarry LP acquired a new position in CDW during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $183.38 on Friday. The company has a market cap of $24.15 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. CDW Co. has a 12 month low of $137.31 and a 12 month 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 50-day simple moving average of $164.65 and a 200-day simple moving average of $176.54.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.36%. CDW's payout ratio is 30.98%.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business'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 completion of the sale, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 approximately $6,887,099.30. The trade was 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 owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CDW. 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 report on Thursday, May 8th. Citigroup lifted their target price on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Barclays cut their target price 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. 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 report on Thursday, April 17th. Finally, Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.38.

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.

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