Assenagon Asset Management S.A. Sells 253,026 Shares of CDW Corporation (NASDAQ:CDW)

Assenagon Asset Management S.A. lessened its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 98.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in CDW in the first quarter valued at about $1,881,000. GAMMA Investing LLC grew its stake in CDW by 4.0% during the first quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after buying an additional 81 shares in the last quarter. Cardinal Capital Management Inc. increased its holdings in CDW by 57.6% in the 1st quarter. Cardinal Capital Management Inc. now owns 75,355 shares of the information technology services provider's stock valued at $12,076,000 after buying an additional 27,545 shares during the period. Yousif Capital Management LLC raised its position in shares of CDW by 16.8% in the 1st quarter. Yousif Capital Management LLC now owns 20,244 shares of the information technology services provider's stock valued at $3,244,000 after buying an additional 2,906 shares in the last quarter. Finally, Tounjian Advisory Partners LLC bought a new stake in shares of CDW during the 1st quarter worth approximately $398,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDW. Citigroup lifted their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. UBS Group reduced their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Barclays dropped their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CDW presently has an average rating of "Hold" and an average target price of $208.71.

Insider Activity at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the sale, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

CDW Price Performance

Shares of NASDAQ CDW traded up $0.62 during midday trading on Friday, reaching $170.62. 2,210,450 shares of the company were exchanged, compared to its average volume of 1,240,920. The stock's 50-day moving average price is $171.53 and its 200-day moving average price is $175.53. The stock has a market cap of $22.47 billion, a P/E ratio of 21.14, a PEG ratio of 2.86 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a one year low of $137.31 and a one year high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. CDW's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 EPS. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

CDW Company 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.