Asset Management One Co. Ltd. Lowers Stake in CDW Corporation (NASDAQ:CDW)

Asset Management One Co. Ltd. decreased its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,183 shares of the information technology services provider's stock after selling 5,273 shares during the quarter. Asset Management One Co. Ltd.'s holdings in CDW were worth $9,324,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC increased its holdings in CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Invesco Ltd. increased its stake in CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after buying an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. cut their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup boosted their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays lowered their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $208.71.

Insider Buying and Selling

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm'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 value of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The shares were 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 in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

CDW Trading Up 0.1%

NASDAQ:CDW opened at $177.41 on Friday. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26. The firm has a 50 day moving average of $174.60 and a 200 day moving average of $175.39. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.98 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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 business had revenue of $5.20 billion for 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 for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. As a group, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW's payout ratio is currently 30.98%.

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.

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