Virtu Financial LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Virtu Financial LLC acquired a new position in shares of CDW Co. (NASDAQ:CDW) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,706 shares of the information technology services provider’s stock, valued at approximately $357,000.

Several other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in CDW by 43.6% in the fourth quarter. First Horizon Advisors Inc. now owns 234 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 71 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in CDW by 5.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the information technology services provider’s stock valued at $213,000 after buying an additional 82 shares during the last quarter. Wealth Alliance grew its holdings in shares of CDW by 3.1% during the third quarter. Wealth Alliance now owns 2,884 shares of the information technology services provider’s stock worth $345,000 after purchasing an additional 87 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of CDW by 61.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 90 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in shares of CDW by 3.0% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,338 shares of the information technology services provider’s stock worth $440,000 after purchasing an additional 98 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

In other CDW news, insider Frederick J. Kulevich sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total transaction of $386,950.00. Following the completion of the transaction, the insider now directly owns 15,478 shares of the company’s stock, valued at approximately $2,395,684.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christina M. Corley sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $162.13, for a total transaction of $567,455.00. Following the completion of the sale, the insider now directly owns 44,235 shares of the company’s stock, valued at $7,171,820.55. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock worth $1,421,480 in the last 90 days. Company insiders own 1.33% of the company’s stock.

CDW has been the topic of several research reports. Zacks Investment Research raised CDW from a “hold” rating to a “buy” rating and set a $162.00 price objective on the stock in a report on Monday, March 8th. Credit Suisse Group increased their target price on shares of CDW from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, February 11th. Citigroup raised their price objective on shares of CDW from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. William Blair restated an “outperform” rating on shares of CDW in a research report on Wednesday, February 10th. Finally, Morgan Stanley upgraded shares of CDW from an “equal weight” rating to an “overweight” rating and set a $164.00 price objective for the company in a research report on Thursday, February 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $149.50.

Shares of CDW opened at $170.32 on Thursday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.50 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $160.37 and a 200-day simple moving average of $138.94. CDW Co. has a 1-year low of $93.75 and a 1-year high of $172.79. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Tuesday, February 9th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.31. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.38 billion. CDW had a net margin of 4.08% and a return on equity of 88.43%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted $1.57 EPS. On average, equities analysts expect that CDW Co. will post 6.08 earnings per share for the current fiscal year.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 10th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 5.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Thursday, February 25th were issued a $0.40 dividend. The ex-dividend date was Wednesday, February 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. CDW’s dividend payout ratio (DPR) is presently 26.58%.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

See Also: What is the float in trading stocks?

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Co. (NASDAQ:CDW).

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.