Nuveen Asset Management LLC Sells 11,842 Shares of CDW Co. (NASDAQ:CDW)

Nuveen Asset Management LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,689 shares of the information technology services provider's stock after selling 11,842 shares during the period. Nuveen Asset Management LLC owned 0.27% of CDW worth $63,645,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after buying an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of CDW in the fourth quarter valued at about $130,996,000. Graphene Investments SAS increased its stake in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after purchasing an additional 2,600 shares during the period. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

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 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 approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the company's 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 completion of the sale, the insider now owns 144,931 shares of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on CDW shares. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Citigroup upped their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, UBS Group reduced their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus price target of $216.38.

CDW Price Performance

Shares of CDW stock traded up $1.56 during mid-day trading on Thursday, reaching $183.38. The company's stock had a trading volume of 1,162,897 shares, compared to its average volume of 1,217,994. The firm's 50-day moving average is $164.39 and its two-hundred day moving average is $176.60. The company has a market cap of $24.15 billion, a P/E ratio of 23.01, a PEG 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 company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.13% and a return on equity of 55.42%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 earnings per share. On average, research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase 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 stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.36%. CDW's dividend payout ratio (DPR) is presently 30.98%.

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.