CDW Co. (NASDAQ:CDW) Insider Christine A. Leahy Sells 40,917 Shares

CDW Co. (NASDAQ:CDW) insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CDW Price Performance

Shares of CDW opened at $178.94 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The stock has a market cap of $23.58 billion, a PE ratio of 22.45, a P/E/G ratio of 3.21 and a beta of 0.91. The firm has a 50-day simple moving average of $161.13 and a two-hundred day simple moving average of $177.70. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26.

CDW (NASDAQ:CDW) last posted its 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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. CDW’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS. As a group, analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, May 23rd. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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

Hedge Funds Weigh In On CDW

Institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. boosted its holdings in CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider’s stock valued at $352,411,000 after purchasing an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. grew its position in shares of CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider’s stock worth $240,312,000 after buying an additional 1,372,874 shares in the last quarter. Norges Bank acquired a new stake in CDW in the fourth quarter valued at approximately $144,826,000. Madison Investment Advisors LLC purchased a new position in CDW in the fourth quarter worth approximately $130,996,000. Finally, Proficio Capital Partners LLC grew its holdings in CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after acquiring an additional 683,446 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays decreased their price target 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. UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Citigroup boosted their price objective on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.38.

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.