Crescent Grove Advisors LLC Buys 4,184 Shares of CDW Corporation (NASDAQ:CDW)

Crescent Grove Advisors LLC grew its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,731 shares of the information technology services provider's stock after purchasing an additional 4,184 shares during the period. CDW comprises about 2.4% of Crescent Grove Advisors LLC's investment portfolio, making the stock its 10th biggest position. Crescent Grove Advisors LLC owned about 0.11% of CDW worth $22,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its position in shares of CDW by 16.4% during the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider's stock valued at $92,000 after acquiring an additional 75 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of CDW by 9.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 3,720 shares of the information technology services provider's stock valued at $647,000 after acquiring an additional 316 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CDW by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider's stock valued at $170,476,000 after acquiring an additional 40,666 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of CDW by 41.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider's stock valued at $416,000 after acquiring an additional 701 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after acquiring an additional 683,446 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent research reports. 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. UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $208.71.

CDW Trading Up 0.1%

Shares of CDW stock opened at $177.41 on Friday. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $241.26. The company has a market capitalization of $23.36 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.98 and a beta of 0.95. The firm has a 50-day moving average price of $174.60 and a 200 day moving average price of $175.39. 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 (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the firm posted $1.92 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is 30.98%.

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of the business'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 completion of the sale, the insider now directly owns 144,931 shares of the company's stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business'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 sale, the insider now directly owns 36,077 shares of the company's stock, 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 currently owned by insiders.

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.

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.