CDW Corporation (NASDAQ:CDW) Position Reduced by Clio Asset Management LLC

Clio Asset Management LLC decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,216 shares of the information technology services provider's stock after selling 6,801 shares during the period. CDW makes up about 8.4% of Clio Asset Management LLC's holdings, making the stock its 4th biggest holding. Clio Asset Management LLC owned approximately 0.05% of CDW worth $10,612,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of CDW in the 4th quarter worth about $30,000. Allworth Financial LP increased its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares during the period. Finally, Optiver Holding B.V. lifted its position in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDW. JPMorgan Chase & Co. lowered their price target 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. UBS Group lowered their price target 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 lowered their price target 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, Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $208.71.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction 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 now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

CDW Price Performance

Shares of CDW traded up $0.62 during mid-day trading on Friday, reaching $170.62. The stock had a trading volume of 2,210,450 shares, compared to its average volume of 1,238,137. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.87 and a beta of 0.95. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $241.26. The business has a fifty day moving average of $171.97 and a 200 day moving average of $175.43. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share 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 during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW's dividend payout ratio (DPR) is currently 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.