Y Intercept Hong Kong Ltd Buys 3,738 Shares of CDW Corporation (NASDAQ:CDW)

Y Intercept Hong Kong Ltd raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 100.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,458 shares of the information technology services provider's stock after purchasing an additional 3,738 shares during the period. Y Intercept Hong Kong Ltd's holdings in CDW were worth $1,195,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. GW&K Investment Management LLC lifted its holdings in shares of CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after buying an additional 75 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in CDW by 2.5% in the 1st quarter. Allianz Asset Management GmbH now owns 14,136 shares of the information technology services provider's stock worth $2,265,000 after purchasing an additional 344 shares in the last quarter. Mader & Shannon Wealth Management Inc. lifted its stake in CDW by 36.5% in the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 43,650 shares of the information technology services provider's stock worth $6,995,000 after purchasing an additional 11,676 shares in the last quarter. Wealth Alliance LLC purchased a new position in shares of CDW during the 1st quarter valued at $376,000. Finally, Diversify Advisory Services LLC raised its position in shares of CDW by 33.5% in the first quarter. Diversify Advisory Services LLC now owns 1,530 shares of the information technology services provider's stock worth $245,000 after buying an additional 384 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were 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 in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on 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 owned 144,931 shares in the company, valued at $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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on CDW shares. Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Barclays lowered their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $208.50.

CDW Trading Up 0.2%

NASDAQ:CDW traded up $0.31 during midday trading on Friday, reaching $181.14. 631,840 shares of the stock traded hands, compared to its average volume of 867,765. The stock has a market capitalization of $23.85 billion, a P/E ratio of 22.45, a PEG ratio of 3.04 and a beta of 0.93. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $237.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The company has a fifty day moving average of $178.76 and a 200 day moving average of $175.93.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same period last year, the firm earned $1.92 earnings per share. CDW's quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) 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.