Voloridge Investment Management LLC acquired a new position in CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 607,360 shares of the information technology services provider's stock, valued at approximately $105,705,000. Voloridge Investment Management LLC owned 0.46% of CDW as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after acquiring an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in CDW in the 4th quarter worth approximately $130,996,000. Graphene Investments SAS increased its holdings in CDW by 17.6% in the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after acquiring an additional 2,600 shares in the last quarter. Wellington Management Group LLP increased its holdings in CDW by 29.2% in the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Institutional investors own 93.15% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CDW. Barclays reduced their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Citigroup increased their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, 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 report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.38.
View Our Latest Stock Report on CDW
Insider Activity at CDW
In related news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 sale, 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 disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.
CDW Trading Down 0.5%
Shares of CDW opened at $188.04 on Tuesday. 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 Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a 50 day simple moving average of $163.60 and a two-hundred day simple moving average of $176.48. The firm has a market cap of $24.76 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.
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, beating 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 during the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the firm posted $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.
CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
About CDW
(
Free Report)
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.
Further Reading
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