CDW Corporation (NASDAQ:CDW) is Clio Asset Management LLC's 4th Largest Position

Clio Asset Management LLC cut its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,216 shares of the information technology services provider's stock after selling 6,801 shares during the period. CDW accounts for 8.4% of Clio Asset Management LLC's investment portfolio, making the stock its 4th largest holding. Clio Asset Management LLC owned about 0.05% of CDW worth $10,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in shares of CDW during the 4th quarter valued at $30,000. Allworth Financial LP boosted its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust grew its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the period. Finally, Optiver Holding B.V. increased its position in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Up 3.5%

CDW stock traded up $6.07 during trading on Tuesday, reaching $179.84. The stock had a trading volume of 1,332,854 shares, compared to its average volume of 1,238,665. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.87 and a beta of 0.95. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. The company's 50 day moving average is $172.41 and its two-hundred day moving average is $175.39.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned $1.92 earnings per share. Equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is 30.98%.

Analyst Ratings Changes

A number of equities research analysts have commented on CDW shares. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group dropped their price objective 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, CDW has an average rating of "Hold" and a consensus price target of $208.71.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated 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 completion of the sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

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.