GF Fund Management CO. LTD. Purchases Shares of 25,257 CDW Co. (NASDAQ:CDW)

GF Fund Management CO. LTD. bought a new position in CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,257 shares of the information technology services provider's stock, valued at approximately $4,396,000.

Other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter worth $30,000. 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 worth $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management acquired a new stake in CDW in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in CDW by 38.9% in the fourth 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. Finally, Optiver Holding B.V. raised its position in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $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.

Analyst Ratings Changes

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

CDW Stock Down 1.7%

NASDAQ:CDW traded down $3.09 during mid-day trading on Friday, reaching $179.26. The stock had a trading volume of 249,795 shares, compared to its average volume of 1,215,477. 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 market capitalization of $23.61 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The stock's 50 day simple moving average is $166.01 and its two-hundred day simple moving average is $175.99.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 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 company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the firm earned $1.92 EPS. The business's revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate 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. Shareholders 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 yield of 1.39%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

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

Insiders Place Their Bets

In other news, insider Christine A. Leahy sold 40,917 shares of the company'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 directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents 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 stock in a transaction that occurred on 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 sale, the insider now owns 36,077 shares in the company, valued at $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 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.