WBI Investments Inc. Purchases New Stake in CDW Co. (NASDAQ:CDW)

WBI Investments Inc. acquired a new position in CDW Co. (NASDAQ:CDWFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,007 shares of the information technology services provider’s stock, valued at approximately $2,826,000.

A number of other hedge funds have also recently added to or reduced their stakes in CDW. OFI Invest Asset Management acquired a new position in shares of CDW during the third quarter valued at $25,000. TFC Financial Management Inc. raised its stake in shares of CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Sandy Spring Bank raised its stake in shares of CDW by 87.3% during the second quarter. Sandy Spring Bank now owns 148 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of CDW during the second quarter valued at about $1,373,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of CDW during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 93.04% of the company’s stock.

Insider Activity at CDW

In related news, insider Christina M. Corley sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total value of $154,007.00. Following the completion of the sale, the insider now owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Christina M. Corley sold 48,320 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $217.23, for a total value of $10,496,553.60. Following the completion of the sale, the insider now directly owns 62,536 shares in the company, valued at approximately $13,584,695.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christina M. Corley sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total value of $154,007.00. Following the completion of the sale, the insider now owns 62,536 shares of the company’s stock, valued at $13,758,545.36. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target on the stock. in a research report on Tuesday, December 12th. Finally, Barclays boosted their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.60.

Check Out Our Latest Report on CDW

CDW Trading Up 0.5 %

NASDAQ:CDW opened at $245.23 on Monday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $247.63. The stock’s 50-day moving average is $223.81 and its two-hundred day moving average is $212.37. The stock has a market cap of $32.85 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.10.

CDW (NASDAQ:CDWGet Free Report) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.40 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that CDW Co. will post 9.71 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 26th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.01%. CDW’s payout ratio is 30.62%.

CDW Company Profile

(Free Report)

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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.

See Also

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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