Pullen Investment Management LLC Has $949,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Pullen Investment Management LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,919 shares of the information technology services provider’s stock after selling 216 shares during the quarter. Pullen Investment Management LLC’s holdings in CDW were worth $949,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent research reports. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Barclays cut their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of “Hold” and an average target price of $208.71.

CDW Stock Down 2.5%

Shares of CDW opened at $170.42 on Friday. The stock’s 50-day moving average price is $170.10 and its two-hundred day moving average price is $175.72. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The company has a market capitalization of $22.44 billion, a PE ratio of 21.38, a PEG ratio of 3.21 and a beta of 0.95. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s dividend payout ratio is currently 30.98%.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was 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 of the company’s stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 of the company’s stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% 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.