Pacer Advisors Inc. Decreases Stake in CDW Corporation (NASDAQ:CDW)

Pacer Advisors Inc. lessened its position in CDW Corporation (NASDAQ:CDW - Free Report) by 23.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,973 shares of the information technology services provider's stock after selling 4,291 shares during the period. Pacer Advisors Inc.'s holdings in CDW were worth $2,239,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in shares of CDW by 6.3% during the fourth quarter. LPL Financial LLC now owns 42,132 shares of the information technology services provider's stock valued at $7,333,000 after purchasing an additional 2,503 shares during the last quarter. Norges Bank bought a new position in shares of CDW in the fourth quarter worth approximately $144,826,000. Pictet Asset Management Holding SA boosted its position in shares of CDW by 8.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 64,473 shares of the information technology services provider's stock worth $11,221,000 after purchasing an additional 5,067 shares during the period. Orion Portfolio Solutions LLC raised its stake in CDW by 12.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,674 shares of the information technology services provider's stock valued at $1,510,000 after purchasing an additional 927 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in CDW by 19.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,634 shares of the information technology services provider's stock valued at $284,000 after purchasing an additional 261 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction that occurred 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 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. 0.84% of the stock is owned by company insiders.

CDW Price Performance

Shares of CDW stock traded down $5.52 during trading hours on Friday, reaching $168.86. 1,165,055 shares of the company's stock were exchanged, compared to its average volume of 776,780. 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 $231.38. The business has a fifty day moving average of $177.88 and a two-hundred day moving average of $175.75. The company has a market capitalization of $22.24 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results 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 analysts' expectations of $4.93 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 1.5%. CDW's dividend payout ratio (DPR) is 30.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDW. Barclays dropped their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. JPMorgan Chase & Co. raised their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group lowered their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $208.50.

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.