OMERS ADMINISTRATION Corp Buys 947 Shares of CDW Co. (NASDAQ:CDW)

OMERS ADMINISTRATION Corp boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 20.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,590 shares of the information technology services provider’s stock after acquiring an additional 947 shares during the period. OMERS ADMINISTRATION Corp’s holdings in CDW were worth $973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CDW. Barclays PLC increased its stake in shares of CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares during the last quarter. RDA Financial Network increased its stake in shares of CDW by 37.8% in the 4th quarter. RDA Financial Network now owns 2,256 shares of the information technology services provider’s stock valued at $393,000 after purchasing an additional 619 shares during the last quarter. Avanza Fonder AB bought a new position in shares of CDW in the 4th quarter valued at $1,722,000. Merit Financial Group LLC increased its stake in shares of CDW by 35.6% in the 4th quarter. Merit Financial Group LLC now owns 4,093 shares of the information technology services provider’s stock valued at $712,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Canoe Financial LP increased its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CDW. Citigroup boosted their price objective on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced their price objective on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Four 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.38.

CDW Stock Up 0.3%

Shares of CDW opened at $189.03 on Friday. The company has a market capitalization of $24.89 billion, a PE ratio of 23.72, a PEG ratio of 3.21 and a beta of 0.91. CDW Co. has a 12 month low of $137.31 and a 12 month high of $241.26. The stock’s 50-day moving average price is $163.18 and its two-hundred day moving average price is $176.56. 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 announced its 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. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 EPS. On average, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently announced 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 payout ratio is presently 30.98%.

CDW declared that its Board of Directors has initiated a share 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

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 business’s stock in a transaction dated 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 transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% 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.