HB Wealth Management LLC Purchases 5,516 Shares of CDW Corporation (NASDAQ:CDW)

HB Wealth Management LLC raised its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 184.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,506 shares of the information technology services provider's stock after purchasing an additional 5,516 shares during the quarter. HB Wealth Management LLC's holdings in CDW were worth $1,363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its stake in CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Orion Capital Management LLC bought a new position in CDW during the 4th quarter valued at $30,000. Optiver Holding B.V. lifted its stake 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 in the last quarter. Golden State Wealth Management LLC lifted its stake in CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 185 shares in the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in CDW during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Barclays lowered their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup lifted their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $208.50.

CDW Price Performance

Shares of NASDAQ CDW traded down $5.52 during midday trading on Friday, hitting $168.86. 1,165,055 shares of the company's stock were exchanged, compared to its average volume of 776,780. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $231.38. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The company has a market cap of $22.24 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.93 and a beta of 0.95. The business's fifty day moving average price is $177.88 and its two-hundred day moving average price is $175.75.

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 (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The business 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 firm earned $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is presently 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.