Pullen Investment Management LLC Takes Position in CDW Co. (NASDAQ:CDW)

Pullen Investment Management LLC bought a new position in CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,135 shares of the information technology services provider's stock, valued at approximately $1,068,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in CDW in the fourth quarter worth approximately $30,000. Allworth Financial LP raised its position in shares of 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 acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the 4th quarter worth $32,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% during 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 last quarter. Finally, Optiver Holding B.V. boosted its position in CDW by 107.2% during 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 in the last quarter. Institutional investors own 93.15% of the company's stock.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company'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 sale, the insider now owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction 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 sale, the insider now directly 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. Company insiders own 0.84% of the company's stock.

CDW Stock Performance

Shares of CDW traded down $2.37 during trading hours on Friday, reaching $179.98. 342,084 shares of the company traded hands, compared to its average volume of 1,215,902. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a fifty day moving average price of $166.01 and a 200-day moving average price of $175.99. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The stock has a market capitalization of $23.70 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 55.42% and a net margin of 5.13%. The company's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 earnings per share. Equities analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio (DPR) is currently 30.98%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent research reports. 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 report on Thursday, May 8th. Barclays reduced their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Citigroup raised 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. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

About CDW

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.