Litman Gregory Wealth Management LLC Has $6.71 Million Holdings in CDW Corporation (NASDAQ:CDW)

Litman Gregory Wealth Management LLC boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,876 shares of the information technology services provider's stock after buying an additional 4,695 shares during the quarter. Litman Gregory Wealth Management LLC's holdings in CDW were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter valued at approximately $30,000. Optiver Holding B.V. boosted its position in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the last quarter. Golden State Wealth Management LLC boosted its position in CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 185 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in CDW during the first quarter worth approximately $43,000. Finally, Quarry LP acquired a new stake in CDW during the fourth quarter worth approximately $48,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday. UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup raised their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays cut their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $215.86.

CDW Price Performance

Shares of NASDAQ:CDW traded up $4.26 during midday trading on Thursday, reaching $179.99. 991,405 shares of the company's stock were exchanged, compared to its average volume of 1,236,721. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $239.48. The firm has a market capitalization of $23.70 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. The company's 50 day simple moving average is $179.51 and its two-hundred day simple moving average is $175.74. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $1.92 EPS. Equities research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the transaction, the insider owned 144,931 shares in the company, valued at $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider owned 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

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.