Acropolis Investment Management LLC Reduces Position in CDW Co. (NASDAQ:CDW)

Acropolis Investment Management LLC reduced its stake in CDW Co. (NASDAQ:CDW) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,100 shares of the information technology services provider’s stock after selling 146 shares during the quarter. Acropolis Investment Management LLC’s holdings in CDW were worth $497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CDW. Orion Capital Management LLC purchased a new stake in shares of CDW in the fourth quarter valued at approximately $30,000. Allworth Financial LP raised its holdings in shares of 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 acquiring 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 $32,000. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. increased its stake in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm’s stock in a transaction dated 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 owns 36,077 shares of the company’s stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

CDW Stock Up 1.1%

Shares of CDW stock opened at $172.35 on Tuesday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 3.21 and a beta of 0.95. The business’s 50 day simple moving average is $170.63 and its 200-day simple moving average is $175.68.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion during 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 last year, the company posted $1.92 EPS. Equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s payout ratio is currently 30.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CDW shares. 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. JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Citigroup increased their price target on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Barclays reduced their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $208.71.

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.