CDW Co. (NASDAQ:CDW) Insider Frederick J. Kulevich Sells 28,159 Shares

CDW Co. (NASDAQ:CDW) insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CDW Stock Performance

NASDAQ:CDW opened at $188.43 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business has a fifty day simple moving average of $162.72 and a two-hundred day simple moving average of $176.90. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a market capitalization of $24.81 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last released its earnings results 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. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.92 earnings per share. On average, analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has initiated a stock buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, May 23rd. CDW’s dividend payout ratio is 30.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CDW shares. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Citigroup increased their price target on 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 CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Barclays dropped their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Finally, UBS Group dropped 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $216.38.

Institutional Investors Weigh In On CDW

Several hedge funds have recently added to or reduced their stakes in CDW. GW&K Investment Management LLC lifted its stake in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter worth about $30,000. Bayforest Capital Ltd bought a new stake in CDW during the first quarter worth about $31,000. Allworth Financial LP lifted its stake 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 purchasing an additional 52 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter valued at about $32,000. Institutional investors own 93.15% of the company’s stock.

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.