AEGON ASSET MANAGEMENT UK Plc Purchases 24,439 Shares of CDW Co. (NASDAQ:CDW)

AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 56.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 67,690 shares of the information technology services provider’s stock after acquiring an additional 24,439 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in CDW were worth $10,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. lifted its holdings in CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider’s stock valued at $352,411,000 after acquiring an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. grew its holdings in CDW by 17,349.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider’s stock valued at $240,312,000 after buying an additional 1,372,874 shares in the last quarter. Norges Bank purchased a new position in CDW during the 4th quarter valued at approximately $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW in the 4th quarter valued at approximately $130,996,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDW. UBS Group decreased 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. dropped their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays cut their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Citigroup upped their target price on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.38.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the firm’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 sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm’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 transaction of $5,375,553.10. Following the completion of the sale, the insider now owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

CDW Stock Up 2.6%

CDW opened at $179.35 on Wednesday. The business has a 50 day moving average price of $166.70 and a two-hundred day moving average price of $175.80. 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 company has a market cap of $23.62 billion, a PE ratio of 22.50, a P/E/G ratio of 3.21 and a beta of 0.91. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company earned $1.92 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a $0.625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW’s dividend payout ratio is currently 30.98%.

CDW declared that its board has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

About CDW

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.