Rhumbline Advisers Buys 15,590 Shares of CDW Co. (NASDAQ:CDW)

Rhumbline Advisers boosted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,080 shares of the information technology services provider's stock after purchasing an additional 15,590 shares during the quarter. Rhumbline Advisers owned about 0.21% of CDW worth $43,764,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction 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 approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

CDW Price Performance

CDW stock traded up $2.41 during midday trading on Friday, reaching $178.24. 615,364 shares of the company's stock traded hands, compared to its average volume of 1,226,516. The company has a 50-day simple moving average of $167.63 and a two-hundred day simple moving average of $175.82. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.21 and a beta of 0.95. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share 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 firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same period last year, the firm posted $1.92 EPS. The business's revenue was up 6.7% on a year-over-year basis. On average, analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm 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 dividend of $0.625 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW's dividend payout ratio is 30.98%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group decreased 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. JPMorgan Chase & Co. dropped their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Barclays dropped their target price 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, Citigroup increased 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.