Quantinno Capital Management LP Cuts Stock Position in CDW Co. (NASDAQ:CDW)

Quantinno Capital Management LP decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,141 shares of the information technology services provider's stock after selling 6,392 shares during the period. Quantinno Capital Management LP's holdings in CDW were worth $4,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Allworth Financial LP boosted its stake in CDW by 39.7% in the 4th 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. Summit Trail Advisors LLC raised its holdings in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after buying an additional 56 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after buying an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in shares of CDW by 1.7% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock valued at $735,000 after buying an additional 69 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded up $1.56 on Thursday, reaching $183.38. The stock had a trading volume of 1,162,897 shares, compared to its average volume of 1,217,994. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The stock has a market cap of $24.15 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The company has a 50 day simple moving average of $164.39 and a 200 day simple moving average of $176.60.

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 the consensus estimate 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 last year, the firm posted $1.92 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently disclosed 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, May 23rd. CDW's payout ratio is 30.98%.

CDW announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CDW shares. Barclays decreased their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup boosted their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a "buy" 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 stock. According to data from MarketBeat, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

Insider Activity at CDW

In other 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW 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 transaction, 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 disclosure for this sale can be found here. 0.84% of the stock is currently owned by company 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.