Quantinno Capital Management LP Has $4.38 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Quantinno Capital Management LP trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 20.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,141 shares of the information technology services provider’s stock after selling 6,392 shares during the quarter. Quantinno Capital Management LP’s holdings in CDW were worth $4,376,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CDW. Barclays PLC increased its position in shares of CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares in the last quarter. Avanza Fonder AB bought a new position in CDW during the 4th quarter worth about $1,722,000. Merit Financial Group LLC raised 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 period. Romano Brothers AND Company raised its stake in shares of CDW by 192.6% in the 4th quarter. Romano Brothers AND Company now owns 6,502 shares of the information technology services provider’s stock valued at $1,132,000 after purchasing an additional 4,280 shares during the period. Finally, Diversify Wealth Management LLC lifted its holdings in shares of CDW by 45.5% in the fourth quarter. Diversify Wealth Management LLC now owns 3,232 shares of the information technology services provider’s stock valued at $592,000 after purchasing an additional 1,011 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citigroup raised their target price on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley raised 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. Finally, 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 report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $216.38.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’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 transaction of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares in the company, 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 company insiders.

CDW Trading Up 0.3%

CDW opened at $189.03 on Monday. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a 50-day simple moving average of $163.18 and a 200 day simple moving average of $176.48.

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 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the company posted $1.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s payout ratio is 30.98%.

CDW declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

CDW 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.