GAMMA Investing LLC Increases Position in CDW Co. (NASDAQ:CDW)

GAMMA Investing LLC raised its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 16,569.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 336,225 shares of the information technology services provider's stock after purchasing an additional 334,208 shares during the period. GAMMA Investing LLC owned approximately 0.25% of CDW worth $53,883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CDW. Orion Capital Management LLC bought a new position in shares of CDW during the 4th quarter valued at $30,000. Allworth Financial LP raised its holdings 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 during the period. OFI Invest Asset Management bought a new position in CDW in the 4th quarter worth $32,000. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares during the period. Finally, Optiver Holding B.V. raised its holdings in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CDW news, 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 transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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 position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

CDW Price Performance

Shares of CDW stock traded down $2.55 during trading on Wednesday, reaching $176.80. 1,005,719 shares of the stock traded hands, compared to its average volume of 1,222,510. The company has a market capitalization of $23.28 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 3.21 and a beta of 0.91. The business has a fifty day simple moving average of $166.70 and a two-hundred day simple moving average of $175.80. 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 issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The firm 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 business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. Sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW's payout ratio is 30.98%.

CDW Company 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.