CDW Corporation $CDW Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management LLC reduced its CDW position by 64% in the first quarter, selling 7,523 shares and ending with 4,228 shares worth about $512,000.
• CDW recently reported Q1 earnings of $2.28 per share, matching analyst expectations, while revenue of $5.68 billion topped estimates and rose 9.2% year over year.
• Analysts currently have a Moderate Buy consensus on CDW, with an average price target of $144.12; the stock was trading at $133.37 and had also recently paid a quarterly dividend of $0.63 per share.

Sterling Capital Management LLC cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 64.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,228 shares of the information technology services provider's stock after selling 7,523 shares during the quarter. Sterling Capital Management LLC's holdings in CDW were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CDW. eCIO Inc. acquired a new stake in CDW during the fourth quarter worth approximately $61,000. Covestor Ltd lifted its stake in shares of CDW by 53.4% during the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider's stock worth $101,000 after purchasing an additional 258 shares during the period. American National Bank & Trust purchased a new position in shares of CDW during the 4th quarter worth $110,000. Brown Brothers Harriman & Co. boosted its holdings in shares of CDW by 38.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider's stock worth $124,000 after purchasing an additional 254 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of CDW in the fourth quarter valued at $144,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Transactions at CDW

In other CDW news, Director David W. Nelms bought 18,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CDW. Citigroup dropped their target price on CDW from $150.00 to $123.00 and set a "neutral" rating for the company in a research note on Friday, May 8th. UBS Group lowered their price target on CDW from $162.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada raised shares of CDW to an "outperform" rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Raymond James Financial set a $150.00 price objective on shares of CDW in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of CDW from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.12.

CDW Trading Down 3.6%

CDW stock opened at $133.37 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.83 and a beta of 0.97. The business has a fifty day simple moving average of $124.39 and a 200-day simple moving average of $127.30. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $183.91.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.28. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.15 earnings per share. On average, equities research analysts expect that CDW Corporation will post 10.21 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW's payout ratio is presently 30.66%.

CDW Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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