Blair William & Co. IL Sells 82,227 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Blair William & Co. IL reduced its stake in CDW Corporation by 87.3%, selling 82,227 shares during the first quarter, leaving them with 11,963 shares valued at approximately $1.9 million.
• CDW reported a quarterly revenue of $5.98 billion, significantly exceeding expectations, and had an EPS of $2.60, also above analyst estimates.
• The company declared a quarterly dividend of $0.625 per share, with an annualized yield of 1.5%, to be paid on September 10th to shareholders of record on August 25th.

Blair William & Co. IL cut its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 87.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,963 shares of the information technology services provider's stock after selling 82,227 shares during the period. Blair William & Co. IL's holdings in CDW were worth $1,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of CDW in the first quarter worth approximately $373,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW in the first quarter worth approximately $497,000. Sound View Wealth Advisors Group LLC boosted its stake in CDW by 7.5% in the first quarter. Sound View Wealth Advisors Group LLC now owns 1,297 shares of the information technology services provider's stock worth $208,000 after buying an additional 91 shares in the last quarter. Natixis Advisors LLC boosted its stake in CDW by 15.6% in the first quarter. Natixis Advisors LLC now owns 340,889 shares of the information technology services provider's stock worth $54,631,000 after buying an additional 46,049 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in CDW in the first quarter worth approximately $31,000. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 0.6%

NASDAQ CDW opened at $162.92 on Friday. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The stock has a market cap of $21.45 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.72 and a beta of 0.95. The stock's fifty day moving average price is $176.17 and its 200-day moving average price is $174.95. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%. The firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the firm posted $2.50 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

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 transaction of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CDW shares. Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. UBS Group decreased their target price on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Barclays decreased their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, CDW presently has an average rating of "Hold" and an average target price of $202.00.

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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