Twinbeech Capital LP Grows Stake in CDW Co. (NASDAQ:CDW)

Twinbeech Capital LP raised its holdings in shares of 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 (SEC). The firm owned 131,672 shares of the information technology services provider’s stock after buying an additional 122,293 shares during the period. Twinbeech Capital LP’s holdings in CDW were worth $22,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in CDW by 39.7% in 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. OFI Invest Asset Management acquired a new position in shares of CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Optiver Holding B.V. raised its position in shares of CDW by 107.2% during 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 last quarter. Finally, Quarry LP acquired a new position in shares of CDW during the 4th quarter worth about $48,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $189.03 on Monday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 3.21 and a beta of 0.91. The company’s 50 day simple moving average is $163.18 and its 200 day simple moving average is $176.48. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, May 23rd. CDW’s dividend payout ratio is currently 30.98%.

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

Analyst Ratings Changes

A number of research firms have commented on CDW. JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Citigroup increased their price target on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. UBS Group lowered their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley lifted their price objective 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.38.

Insider Activity

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were 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. The trade was a 43.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% 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.