Worldquant Millennium Advisors LLC Sells 49,843 Shares of CDW Co. (NASDAQ:CDW)

Worldquant Millennium Advisors LLC cut its position in CDW Co. (NASDAQ:CDW - Free Report) by 48.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,447 shares of the information technology services provider's stock after selling 49,843 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in CDW were worth $9,128,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP lifted its position in CDW by 39.7% in the 4th 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 acquired a new position in CDW in the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its position in CDW by 38.9% in the fourth 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 last quarter. Optiver Holding B.V. grew its position in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares in the last quarter. Finally, Quarry LP purchased a new position in CDW during the 4th quarter worth approximately $48,000. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CDW shares. Citigroup lifted their target price 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. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Barclays lowered 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 note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus target price of $216.38.

Insider Transactions at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 36,077 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine A. Leahy sold 40,917 shares of the company'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 transaction of $7,423,162.14. Following 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 disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

CDW Price Performance

NASDAQ CDW traded down $1.22 on Friday, reaching $182.16. The company's stock had a trading volume of 1,359,784 shares, compared to its average volume of 1,222,713. The firm has a market cap of $23.99 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The business has a 50-day moving average price of $164.88 and a 200 day moving average price of $176.29. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm 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 company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 earnings per share. Sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

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

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.