CDW Co. (NASDAQ:CDW) Stake Lifted by Man Group plc

Man Group plc grew its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,347 shares of the information technology services provider's stock after purchasing an additional 14,981 shares during the quarter. Man Group plc owned approximately 0.06% of CDW worth $13,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its stake in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the period. Summit Trail Advisors LLC boosted 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 valued at $703,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew 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 valued at $36,000 after acquiring an additional 58 shares during the period. Jacobi Capital Management LLC increased its stake in CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after acquiring an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in 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 worth $735,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Down 3.3%

Shares of NASDAQ:CDW traded down $6.28 during trading on Wednesday, hitting $181.82. The company's stock had a trading volume of 970,884 shares, compared to its average volume of 1,217,239. The company has a market capitalization of $23.94 billion, a PE ratio of 22.81, a PEG ratio of 3.21 and a beta of 0.91. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock's 50-day moving average price is $164.10 and its two-hundred day moving average price is $176.56.

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, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the company posted $1.92 EPS. CDW's quarterly revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has authorized a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

CDW Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.37%. CDW's dividend payout ratio is presently 30.98%.

Insider Buying and Selling at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's 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 in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents 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 insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CDW shares. Citigroup boosted 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 increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays lowered their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.