173 Shares in CDW Co. (NASDAQ:CDW) Purchased by Orion Capital Management LLC

by · The Markets Daily

Orion Capital Management LLC bought a new position in shares of CDW Co. (NASDAQ:CDW – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 173 shares of the information technology services provider’s stock, valued at approximately $30,000.

A number of other institutional investors have also added to or reduced their stakes in CDW. Allworth Financial LP grew its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new stake in CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% during 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 in the last quarter. Optiver Holding B.V. boosted its holdings in CDW by 107.2% during 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 in the last quarter. Finally, Quarry LP acquired a new stake in CDW during the fourth quarter valued at approximately $48,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group decreased 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 lifted their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley lifted 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $216.38.

Get Our Latest Stock Report on CDW

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the transaction, the insider now owns 36,077 shares of the company’s stock, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

CDW Stock Performance

NASDAQ:CDW opened at $183.38 on Friday. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The firm has a 50 day moving average of $164.65 and a 200-day moving average of $176.54. 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 $24.15 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW – Get Free Report) last posted its 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. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. CDW’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.98%.

CDW announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

CDW Profile

(Free Report)

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.

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