Siemens Fonds Invest GmbH Acquires 7,103 Shares of CDW Co. (NASDAQ:CDW)

Siemens Fonds Invest GmbH raised its stake in CDW Co. (NASDAQ:CDW - Free Report) by 483.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,571 shares of the information technology services provider's stock after purchasing an additional 7,103 shares during the quarter. Siemens Fonds Invest GmbH's holdings in CDW were worth $1,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. Vanguard Group Inc. grew its holdings in shares of CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 574,444 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after acquiring an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated 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 directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm'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 transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CDW shares. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective 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 reduced their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $216.38.

CDW Price Performance

Shares of CDW stock traded up $0.06 on Tuesday, reaching $188.10. The company's stock had a trading volume of 770,682 shares, compared to its average volume of 1,218,226. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The company has a market capitalization of $24.77 billion, a P/E ratio of 23.60, a PEG ratio of 3.21 and a beta of 0.91. The stock's 50 day simple moving average is $164.10 and its 200-day simple moving average is $176.56.

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 (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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the business posted $1.92 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a share buyback plan 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 repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. CDW's payout ratio is 30.98%.

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.