First Hawaiian Bank Has $2.57 Million Stake in CDW Co. (NASDAQ:CDW)

First Hawaiian Bank lowered its position in CDW Co. (NASDAQ:CDW) by 7.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 16,024 shares of the information technology services provider’s stock after selling 1,222 shares during the period. First Hawaiian Bank’s holdings in CDW were worth $2,568,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of CDW in the 4th quarter valued at $30,000. Allworth Financial LP increased its stake in shares of 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 acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in shares of CDW by 107.2% in 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 in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW opened at $182.35 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 company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 3.21 and a beta of 0.91. The firm’s fifty day moving average price is $166.01 and its two-hundred day moving average price is $175.99. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26.

CDW (NASDAQ:CDW) last posted 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. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. As a group, analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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 issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s dividend payout ratio is 30.98%.

CDW declared that its Board of Directors has authorized 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDW. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Citigroup boosted their price target 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. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.38.

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction dated 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 completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of the 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 transaction, the insider now 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 position. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

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.