Wedgewood Partners Inc. Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Wedgewood Partners Inc. decreased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,447 shares of the information technology services provider's stock after selling 5,404 shares during the period. CDW accounts for about 3.1% of Wedgewood Partners Inc.'s holdings, making the stock its 14th biggest position. Wedgewood Partners Inc. owned about 0.07% of CDW worth $15,741,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CDW. Allworth Financial LP lifted its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust grew its position 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 valued at $36,000 after purchasing an additional 58 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of CDW by 107.2% during 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 last quarter. Finally, Quarry LP purchased a new stake in shares of CDW during the 4th quarter valued at about $48,000. Institutional investors own 93.15% of the company's stock.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 144,931 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Citigroup increased their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased 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. Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. 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. Finally, Barclays cut their price objective 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. Four equities 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, the company presently has an average rating of "Moderate Buy" and an average price target of $216.38.

CDW Trading Up 0.9%

NASDAQ CDW traded up $1.56 on Thursday, hitting $183.38. 1,162,897 shares of the stock were exchanged, compared to its average volume of 1,218,242. 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 has a fifty day moving average price of $164.39 and a two-hundred day moving average price of $176.60. The firm has a market capitalization of $24.15 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.21 and a beta of 0.91. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 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 company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. CDW's quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.36%. CDW's payout ratio is currently 30.98%.

CDW Company 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.