QRG Capital Management Inc. Has $2.44 Million Stake in CDW Corporation (NASDAQ:CDW)

QRG Capital Management Inc. cut its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 31.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,195 shares of the information technology services provider's stock after selling 6,822 shares during the period. QRG Capital Management Inc.'s holdings in CDW were worth $2,435,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in CDW by 12.7% in 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 acquired a new stake in CDW during the fourth quarter worth about $130,996,000. Wellington Management Group LLP increased its stake in CDW by 29.2% during 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 acquiring an additional 574,444 shares during the period. Geode Capital Management LLC increased its stake in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after acquiring an additional 54,341 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in CDW by 56.5% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 67,690 shares of the information technology services provider's stock valued at $10,843,000 after acquiring an additional 24,439 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business's 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 directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents 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.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. UBS Group decreased 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. JPMorgan Chase & Co. dropped their price objective 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, Citigroup lifted their target price 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $208.71.

CDW Price Performance

Shares of CDW traded up $3.15 during trading hours on Monday, hitting $173.77. The stock had a trading volume of 1,268,050 shares, compared to its average volume of 1,238,255. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.87 and a beta of 0.95. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The company's fifty day moving average is $172.41 and its two-hundred day moving average is $175.39. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last issued 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. CDW had a net margin of 5.10% and a return on equity of 54.90%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The company's quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that CDW Corporation will post 9.41 EPS for the current 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 given 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 1.44%. CDW's payout ratio is 30.98%.

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.