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 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 transaction, the insider now owns 144,931 shares of the company’s stock, valued at $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CDW Stock Down 0.6%

Shares of NASDAQ:CDW opened at $178.94 on Monday. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The firm has a fifty day moving average of $161.13 and a 200 day moving average of $177.13. The firm has a market capitalization of $23.56 billion, a PE ratio of 22.45, 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 quick ratio of 1.24 and a current ratio of 1.35.

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. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the business earned $1.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its board has initiated a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 of this dividend is Friday, May 23rd. CDW’s payout ratio is currently 30.98%.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently modified their holdings of CDW. Headlands Technologies LLC boosted its position in CDW by 5.6% during the first quarter. Headlands Technologies LLC now owns 30,774 shares of the information technology services provider’s stock valued at $4,932,000 after buying an additional 1,624 shares during the period. Deutsche Bank AG boosted its position in CDW by 6.2% during the first quarter. Deutsche Bank AG now owns 568,454 shares of the information technology services provider’s stock valued at $91,100,000 after buying an additional 33,247 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CDW by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 819,042 shares of the information technology services provider’s stock valued at $131,260,000 after buying an additional 22,184 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in CDW during the first quarter valued at about $20,895,000. Finally, Exencial Wealth Advisors LLC boosted its position in CDW by 43.4% during the first quarter. Exencial Wealth Advisors LLC now owns 72,385 shares of the information technology services provider’s stock valued at $11,600,000 after buying an additional 21,911 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group reduced their price target on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday. Barclays reduced their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday. 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 report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.