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

Bank of New York Mellon Corp lessened its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Unison Asset Management LLC lifted its position in shares of CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after purchasing an additional 3,657 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of CDW during the 4th quarter worth $130,996,000. Allspring Global Investments Holdings LLC lifted its position in shares of CDW by 1.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock worth $963,000 after purchasing an additional 94 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Transactions at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider directly owned 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

CDW Stock Performance

NASDAQ CDW traded up $1.31 during trading on Thursday, reaching $182.06. The company's stock had a trading volume of 127,126 shares, compared to its average volume of 1,234,603. 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 firm has a market cap of $23.97 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 3.04 and a beta of 0.93. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The business's fifty day moving average price is $178.49 and its 200-day moving average price is $175.66.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the business posted $1.92 earnings per share. CDW's quarterly revenue was up 6.7% on a year-over-year basis. As a group, analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid 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 dividend yield of 1.37%. CDW's dividend payout ratio (DPR) is 30.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CDW shares. 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. JPMorgan Chase & Co. cut their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. UBS Group cut their price target 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. Finally, Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, CDW has an average rating of "Hold" and an average price target of $208.71.

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.