CDW Corporation (NASDAQ:CDW) Shares Purchased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in CDW Corporation by 51.6%, owning 9,598 shares valued at approximately $1.54 million.
• Insiders Frederick J. Kulevich and Christine A. Leahy sold significant shares of CDW stock, representing decreases of 43.84% and 22.02% in their holdings, respectively.
• JPMorgan and Citigroup have raised their price targets for CDW to $205.00 and $200.00, maintaining a "neutral" rating on the stock.

Avantax Advisory Services Inc. increased its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,598 shares of the information technology services provider's stock after acquiring an additional 3,268 shares during the period. Avantax Advisory Services Inc.'s holdings in CDW were worth $1,538,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in 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 valued at $27,000 after purchasing an additional 75 shares during the period. Orion Capital Management LLC acquired a new stake in CDW in the fourth quarter valued at approximately $30,000. Optiver Holding B.V. grew its holdings in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares during the period. Golden State Wealth Management LLC grew its holdings in CDW by 237.2% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 185 shares during the period. Finally, Global X Japan Co. Ltd. acquired a new stake in CDW in the first quarter valued at approximately $43,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred 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 in the company, 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 filing with the SEC, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of CDW 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 approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Analyst Ratings Changes

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

CDW Stock Performance

Shares of NASDAQ:CDW opened at $174.38 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The business's 50 day moving average price is $178.15 and its 200-day moving average price is $175.87. The firm has a market capitalization of $22.96 billion, a PE ratio of 21.61, a P/E/G ratio of 3.02 and a beta of 0.93. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $231.38.

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, topping analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. The business's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.4%. CDW's dividend payout ratio (DPR) is presently 30.98%.

CDW Company Profile

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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