Two Sigma Investments LP Purchases 125,117 Shares of CDW Co. (NASDAQ:CDW)

Two Sigma Investments LP increased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 319.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,296 shares of the information technology services provider's stock after acquiring an additional 125,117 shares during the period. Two Sigma Investments LP owned about 0.12% of CDW worth $28,594,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Allworth Financial LP lifted its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares in the last quarter. Summit Trail Advisors LLC raised its stake in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust raised its stake in 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 buying an additional 58 shares during the period. Jacobi Capital Management LLC increased its holdings in CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after purchasing an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in CDW by 1.7% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock worth $735,000 after purchasing an additional 69 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

CDW traded down $1.22 during trading on Friday, hitting $182.16. 1,359,784 shares of the stock traded hands, compared to its average volume of 1,222,713. The business has a 50 day moving average price of $164.88 and a 200 day moving average price of $176.29. 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. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. CDW's dividend payout ratio is 30.98%.

Insider Buying and Selling

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated 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 directly owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CDW. Barclays lowered 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. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, CDW 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.