Teza Capital Management LLC Buys Shares of 1,693 CDW Co. (NASDAQ:CDW)

Teza Capital Management LLC acquired a new position in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,693 shares of the information technology services provider's stock, valued at approximately $295,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in 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 purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new stake in CDW during the fourth quarter worth about $32,000. 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 worth $36,000 after buying an additional 58 shares in the last quarter. Optiver Holding B.V. increased its stake 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 acquiring an additional 119 shares during the period. Finally, Quarry LP acquired a new position in CDW in the 4th quarter valued at approximately $48,000. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

CDW stock traded down $1.22 on Monday, reaching $182.16. The company's stock had a trading volume of 1,359,784 shares, compared to its average volume of 1,222,713. The business's fifty day moving average price is $164.88 and its 200 day moving average price is $176.10. 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 company has a market cap of $23.99 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 3.21 and a beta of 0.91. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last issued 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. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has approved a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in 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 programs are often a sign that the company's board believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid 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 1.37%. CDW's dividend payout ratio (DPR) is currently 30.98%.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated 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 directly owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CDW. 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. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. UBS Group reduced their price objective 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. Finally, Morgan Stanley increased their price target 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.