GTS Securities LLC Decreases Position in CDW Co. (NASDAQ:CDW)

GTS Securities LLC reduced its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 45.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,836 shares of the information technology services provider's stock after selling 1,513 shares during the quarter. GTS Securities LLC's holdings in CDW were worth $320,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter valued at approximately $30,000. PharVision Advisers LLC acquired a new stake in CDW during the 4th quarter valued at $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CDW by 15.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 936,587 shares of the information technology services provider's stock valued at $163,004,000 after purchasing an additional 123,107 shares during the last quarter. Voloridge Investment Management LLC bought a new position in CDW during the fourth quarter worth $105,705,000. Finally, Waverly Advisors LLC acquired a new position in shares of CDW in the fourth quarter valued at $374,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Trading Down 3.1%

Shares of NASDAQ:CDW traded down $5.60 during mid-day trading on Monday, hitting $174.76. The company had a trading volume of 2,285,138 shares, compared to its average volume of 1,223,383. 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 one year low of $137.31 and a one year high of $241.26. The firm has a fifty day moving average price of $166.39 and a 200 day moving average price of $175.78. The company has a market capitalization of $23.01 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. The firm 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 business's 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. As a group, research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has initiated a stock 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 buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.43%. CDW's payout ratio is currently 30.98%.

Insiders Place Their Bets

In other news, 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 completion of the sale, the insider now directly owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CDW. Barclays lowered their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley lifted 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. JPMorgan Chase & Co. reduced their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group lowered their price objective 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of "Moderate Buy" and an average price target of $216.38.

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.