UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 123,107 Shares of CDW Co. (NASDAQ:CDW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 936,587 shares of the information technology services provider’s stock after acquiring an additional 123,107 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CDW were worth $163,004,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Voloridge Investment Management LLC bought a new stake in CDW in the fourth quarter valued at $105,705,000. Waverly Advisors LLC bought a new stake in shares of CDW during the fourth quarter worth about $374,000. Vident Advisory LLC increased its position in shares of CDW by 7.1% during the fourth quarter. Vident Advisory LLC now owns 3,334 shares of the information technology services provider’s stock worth $580,000 after acquiring an additional 222 shares in the last quarter. Twinbeech Capital LP increased its position in shares of CDW by 1,303.9% during the fourth quarter. Twinbeech Capital LP now owns 131,672 shares of the information technology services provider’s stock worth $22,916,000 after acquiring an additional 122,293 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of CDW by 2,904.0% during the fourth quarter. Two Sigma Advisers LP now owns 75,100 shares of the information technology services provider’s stock worth $13,070,000 after acquiring an additional 72,600 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction that occurred on 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 directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’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 sale, the insider now owns 36,077 shares of the company’s stock, 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. 0.84% of the stock is owned by company insiders.

CDW Trading Up 0.9%

Shares of CDW opened at $183.38 on Friday. The firm has a fifty day simple moving average of $164.65 and a two-hundred day simple moving average of $176.54. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $24.15 billion, a P/E ratio of 23.01, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has initiated a share repurchase 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 dividend on an annualized basis and a yield of 1.36%. CDW’s dividend payout ratio is currently 30.98%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays dropped 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. Citigroup boosted 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. JPMorgan Chase & Co. dropped their price target on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. UBS Group dropped their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.38.

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.