Waverly Advisors LLC Makes New $374,000 Investment in CDW Co. (NASDAQ:CDW)

Waverly Advisors LLC acquired a new stake in CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,147 shares of the information technology services provider's stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Vident Advisory LLC raised its holdings in CDW by 7.1% in the 4th quarter. Vident Advisory LLC now owns 3,334 shares of the information technology services provider's stock worth $580,000 after purchasing an additional 222 shares during the period. Twinbeech Capital LP boosted its stake in CDW by 1,303.9% during the 4th quarter. Twinbeech Capital LP now owns 131,672 shares of the information technology services provider's stock worth $22,916,000 after purchasing an additional 122,293 shares during the last quarter. Two Sigma Advisers LP boosted its stake in CDW by 2,904.0% during the 4th quarter. Two Sigma Advisers LP now owns 75,100 shares of the information technology services provider's stock worth $13,070,000 after purchasing an additional 72,600 shares during the last quarter. Two Sigma Investments LP boosted its stake in CDW by 319.3% during the 4th quarter. Two Sigma Investments LP now owns 164,296 shares of the information technology services provider's stock worth $28,594,000 after purchasing an additional 125,117 shares during the last quarter. Finally, Texas Bank & Trust Co acquired a new stake in CDW during the 4th quarter worth $312,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Down 1.2%

Shares of CDW traded down $2.23 during mid-day trading on Friday, hitting $180.12. 151,222 shares of the company's stock were exchanged, compared to its average volume of 1,215,061. The company has a market cap of $23.72 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 3.21 and a beta of 0.91. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. 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 stock's 50-day moving average is $166.01 and its 200-day moving average is $175.99.

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. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 earnings per share. On average, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared 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 is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW's dividend payout ratio is currently 30.98%.

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on Thursday, May 8th. The shares were 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 in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CDW shares. JPMorgan Chase & Co. lowered their target price 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. UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Citigroup upped their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.