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

Rhumbline Advisers raised its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 273,080 shares of the information technology services provider's stock after purchasing an additional 15,590 shares during the period. Rhumbline Advisers owned 0.21% of CDW worth $43,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in 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 in the last quarter. Madison Investment Advisors LLC purchased a new position in CDW during the fourth quarter valued at approximately $130,996,000. Graphene Investments SAS lifted its holdings 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 valued at $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CDW shares. JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Citigroup boosted their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays lowered their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, UBS Group lowered 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $216.38.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred on 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 directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

CDW Price Performance

Shares of NASDAQ:CDW traded down $1.05 during mid-day trading on Thursday, reaching $175.75. The stock had a trading volume of 1,130,118 shares, compared to its average volume of 1,224,682. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company has a market cap of $23.14 billion, a P/E ratio of 22.05, a price-to-earnings-growth 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 business's 50 day moving average price is $167.00 and its 200 day moving average price is $175.81.

CDW (NASDAQ:CDW - Get Free Report) last posted 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 company had revenue of $5.20 billion for 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 firm's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. CDW's dividend payout ratio (DPR) is presently 30.98%.

CDW declared that its board has approved a share repurchase plan 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

CDW Company 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.