Unigestion Holding SA Decreases Position in CDW Co. (NASDAQ:CDW)

Unigestion Holding SA reduced its stake in CDW Co. (NASDAQ:CDW - Free Report) by 41.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 82,799 shares of the information technology services provider's stock after selling 59,268 shares during the quarter. Unigestion Holding SA owned 0.06% of CDW worth $13,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Orion Capital Management LLC purchased a new stake in CDW in the fourth quarter worth $30,000. Allworth Financial LP grew its stake in shares of 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 acquiring an additional 52 shares during the period. OFI Invest Asset Management bought a new position in shares of CDW during the 4th quarter worth $32,000. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. raised its stake in CDW by 107.2% in the 4th 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. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was 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 in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the company'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 completion of the transaction, the insider now owns 144,931 shares of the company's stock, valued at $26,293,382.02. The trade was a 22.02% 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.

CDW Price Performance

NASDAQ:CDW traded down $0.97 during trading hours on Thursday, hitting $175.83. 1,130,093 shares of the company's stock traded hands, compared to its average volume of 1,224,682. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26. The business's fifty day simple moving average is $167.00 and its two-hundred day simple moving average is $175.81. 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 firm has a market cap of $23.15 billion, a P/E ratio of 22.06, a P/E/G ratio of 3.21 and a beta of 0.91.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter last year, the firm posted $1.92 EPS. The company's revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

CDW Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.42%. CDW's payout ratio is presently 30.98%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price 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. Citigroup upped their price target 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. Barclays reduced their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. UBS Group dropped their price objective on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, CDW has an average rating of "Moderate Buy" and a consensus 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.