Sherbrooke Park Advisers LLC Makes New $855,000 Investment in CDW Co. (NASDAQ:CDW)

Sherbrooke Park Advisers LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,912 shares of the information technology services provider’s stock, valued at approximately $855,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in CDW by 20.1% during the 4th quarter. Royal Bank of Canada now owns 470,318 shares of the information technology services provider’s stock worth $81,853,000 after acquiring an additional 78,576 shares during the period. Rafferty Asset Management LLC raised its stake in shares of CDW by 21.9% during the 4th quarter. Rafferty Asset Management LLC now owns 118,994 shares of the information technology services provider’s stock valued at $20,710,000 after buying an additional 21,409 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of CDW during the 4th quarter valued at about $42,557,000. ProShare Advisors LLC raised its stake in shares of CDW by 16.3% during the 4th quarter. ProShare Advisors LLC now owns 211,884 shares of the information technology services provider’s stock valued at $36,876,000 after buying an additional 29,762 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of CDW during the 4th quarter valued at about $343,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDW shares. JPMorgan Chase & Co. reduced 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. Barclays reduced their price objective 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. Citigroup lifted their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Morgan Stanley lifted 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. Finally, UBS Group dropped 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.38.

CDW Price Performance

NASDAQ:CDW opened at $188.43 on Friday. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The stock has a 50 day moving average of $162.72 and a two-hundred day moving average of $176.90. 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 firm has a market cap of $24.81 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s dividend payout ratio (DPR) is 30.98%.

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

Insiders Place Their Bets

In other 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 sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction 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 completion of the sale, the insider now owns 36,077 shares in the company, valued at approximately $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 owned by insiders.

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.