Graham Capital Management L.P. Makes New $214,000 Investment in CDW Co. (NASDAQ:CDW)

Graham Capital Management L.P. bought a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,231 shares of the information technology services provider’s stock, valued at approximately $214,000.

Other large investors also recently made changes to their positions in the company. FORA Capital LLC boosted its stake in CDW by 77.2% during the 4th quarter. FORA Capital LLC now owns 33,674 shares of the information technology services provider’s stock valued at $5,861,000 after purchasing an additional 14,671 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider’s stock valued at $352,411,000 after buying an additional 1,823,788 shares during the period. Deutsche Bank AG raised its stake in shares of CDW by 55.0% in the fourth quarter. Deutsche Bank AG now owns 535,207 shares of the information technology services provider’s stock valued at $93,147,000 after buying an additional 189,963 shares during the period. EP Wealth Advisors LLC raised its stake in shares of CDW by 6.1% during the 4th quarter. EP Wealth Advisors LLC now owns 5,899 shares of the information technology services provider’s stock valued at $1,027,000 after purchasing an additional 339 shares during the period. Finally, Centiva Capital LP raised its stake in shares of CDW by 563.8% during the 4th quarter. Centiva Capital LP now owns 13,111 shares of the information technology services provider’s stock valued at $2,282,000 after purchasing an additional 11,136 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 0.3%

CDW opened at $189.03 on Monday. The stock has a market cap of $24.89 billion, a PE ratio of 23.72, a PEG 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. The business has a 50 day moving average of $163.18 and a 200-day moving average of $176.48. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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 business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. Equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, May 23rd. CDW’s payout ratio is 30.98%.

Insiders Place Their Bets

In other CDW 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 transaction of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the insider now directly owns 36,077 shares of the company’s stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup boosted 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. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Barclays dropped their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Morgan Stanley increased their target price 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 price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.38.

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.