Cerity Partners LLC Sells 9,667 Shares of CDW Corporation (NASDAQ:CDW)

Cerity Partners LLC decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,342 shares of the information technology services provider's stock after selling 9,667 shares during the period. Cerity Partners LLC's holdings in CDW were worth $4,061,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CDW. Orion Capital Management LLC acquired a new stake in CDW during the 4th quarter valued at $30,000. Optiver Holding B.V. boosted 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 during the last quarter. Golden State Wealth Management LLC boosted its position in CDW by 237.2% in 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 buying an additional 185 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in CDW in the 1st quarter valued at $43,000. Finally, Quarry LP bought a new position in CDW in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ:CDW traded down $0.40 during trading on Friday, hitting $179.59. 833,857 shares of the company were exchanged, compared to its average volume of 1,237,613. 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 $237.48. The company has a market capitalization of $23.65 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.03 and a beta of 0.93. The business's 50 day moving average is $179.53 and its 200-day moving average is $175.78.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Equities analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

Insider Transactions at CDW

In related news, 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 value of $5,375,553.10. Following the transaction, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated 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 directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. raised their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays reduced their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup lifted their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, 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 report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $208.50.

About CDW

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.