CDW Corporation (NASDAQ:CDW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 954,632 shares of the information technology services provider's stock after selling 24,889 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of CDW worth $152,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. D. E. Shaw & Co. Inc. lifted its holdings in shares of CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after acquiring an additional 1,823,788 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after acquiring an additional 1,372,874 shares during the last quarter. Norges Bank bought a new stake in shares of CDW in the 4th quarter worth about $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW in the 4th quarter worth about $130,996,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of CDW in the 4th quarter worth about $105,705,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Citigroup lifted their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday. Finally, UBS Group decreased their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $211.57.

Insider Activity at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction that occurred on 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 sale, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the business'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 transaction of $7,423,162.14. Following the sale, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This 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 insiders.

CDW Stock Down 1.3%

Shares of CDW stock traded down $2.32 on Friday, reaching $177.38. The stock had a trading volume of 775,092 shares, compared to its average volume of 1,236,325. The company has a 50 day moving average price of $178.83 and a 200 day moving average price of $175.69. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $241.26. The stock has a market capitalization of $23.36 billion, a P/E ratio of 21.98, a P/E/G ratio of 3.04 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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. CDW had a net margin of 5.10% and a return on equity of 54.90%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

CDW 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.