Bank of New York Mellon Corp cut its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 954,632 shares of the information technology services provider's stock after selling 24,889 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of CDW worth $152,989,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Unison Asset Management LLC grew its holdings in shares of CDW by 9.4% during the first quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after buying an additional 3,657 shares during the last quarter. Franklin Resources Inc. boosted its holdings in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in CDW in the fourth quarter valued at $130,996,000. Allspring Global Investments Holdings LLC boosted its holdings in CDW by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after purchasing an additional 94 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after purchasing an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at CDW
In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated 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 sale, the insider owned 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the 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 completion of the sale, the insider directly owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.
CDW Price Performance
Shares of CDW traded down $1.05 during mid-day trading on Thursday, hitting $179.70. 962,393 shares of the company were exchanged, compared to its average volume of 1,238,169. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. 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 50 day moving average of $178.83 and a 200-day moving average of $175.69. The stock has a market cap of $23.66 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.
CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.
CDW Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW's payout ratio is 30.98%.
Wall Street Analyst Weigh In
CDW has been the topic of several recent research reports. Citigroup upped their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. 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 research report on Thursday, May 8th. 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 research report on Thursday, May 8th. Finally, 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 research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of "Hold" and a consensus target price of $208.71.
Get Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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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