Twinbeech Capital LP Buys 122,293 Shares of CDW Co. (NASDAQ:CDW)

Twinbeech Capital LP lifted its position in CDW Co. (NASDAQ:CDW) by 1,303.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,672 shares of the information technology services provider’s stock after buying an additional 122,293 shares during the quarter. Twinbeech Capital LP owned about 0.10% of CDW worth $22,916,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CDW by 1.6% in the 4th 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 purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after buying an additional 574,444 shares during the last quarter. Invesco Ltd. lifted its position in shares of CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after buying an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after buying an additional 575,333 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

CDW Stock Up 0.3%

CDW opened at $189.03 on Monday. The company has a fifty day moving average price of $163.18 and a 200-day moving average price of $176.48. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a one year low of $137.31 and a one year high of $241.26.

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

CDW declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The firm 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s payout ratio is 30.98%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDW. UBS Group lowered their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Barclays cut their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup raised their price target on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.