CDW Corporation (NASDAQ:CDW) Stock Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 98.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,245 shares of the information technology services provider's stock after selling 253,026 shares during the period. Assenagon Asset Management S.A.'s holdings in CDW were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of CDW in the 4th quarter worth about $30,000. Allworth Financial LP increased its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter worth about $32,000. Parkside Financial Bank & Trust increased its position in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. increased its position in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Buying and Selling at CDW

In other CDW news, 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 transaction of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. 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 report on Thursday, May 8th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $208.71.

CDW Stock Performance

Shares of NASDAQ CDW traded up $3.15 during midday trading on Monday, hitting $173.77. The company's stock had a trading volume of 1,268,050 shares, compared to its average volume of 1,238,255. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The firm's fifty day moving average price is $172.41 and its 200-day moving average price is $175.39. The firm has a market cap of $22.88 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.87 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26.

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. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. CDW's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 EPS. On average, sell-side analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, May 23rd. CDW's payout ratio is 30.98%.

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.