Numerai GP LLC Makes New $1.85 Million Investment in CDW Co. (NASDAQ:CDW)

Numerai GP LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,600 shares of the information technology services provider’s stock, valued at approximately $1,845,000.

A number of other hedge funds also recently made changes to their positions in CDW. Allworth Financial LP increased its holdings in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of CDW during the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Optiver Holding B.V. raised its holdings 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 worth $40,000 after purchasing an additional 119 shares during the period. Finally, Canoe Financial LP raised its holdings in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 1.0%

Shares of CDW opened at $190.68 on Wednesday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The stock has a market cap of $25.11 billion, a PE ratio of 23.92, a P/E/G ratio of 3.21 and a beta of 0.91. 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 business’s 50-day moving average price is $161.92 and its 200-day moving average price is $177.03.

CDW (NASDAQ:CDW) last issued 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 net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. CDW’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.31%. CDW’s payout ratio is currently 30.98%.

CDW declared that its Board of Directors has approved a share buyback program 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 buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on CDW shares. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. UBS Group cut their price target on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Barclays dropped their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report 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 report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.38.

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of the company’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 value of $7,423,162.14. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is currently owned by company insiders.

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.