Numerai GP LLC Purchases New Holdings in CDW Co. (NASDAQ:CDW)

Numerai GP LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,600 shares of the information technology services provider's stock, valued at approximately $1,845,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Franklin Resources Inc. boosted its holdings in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after purchasing an additional 13,748 shares during the period. Madison Investment Advisors LLC purchased a new position in CDW in the fourth quarter valued at $130,996,000. Graphene Investments SAS boosted its holdings in CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after purchasing an additional 2,600 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after purchasing an additional 574,444 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CDW. JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays decreased their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $216.38.

Insider Transactions at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business'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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated 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 owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

CDW Stock Up 0.3%

NASDAQ CDW traded up $0.60 during trading on Friday, reaching $189.03. 961,249 shares of the company's stock were exchanged, compared to its average volume of 1,219,999. The company has a 50 day moving average price of $163.18 and a two-hundred day moving average price of $176.69. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The stock has a market cap of $24.89 billion, a P/E ratio of 23.72, 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 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The business's revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio (DPR) is currently 30.98%.

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

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.