CDW Corporation (NASDAQ:CDW) Shares Sold by Cwm LLC

CWM LLC lessened its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 43.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,963 shares of the information technology services provider's stock after selling 2,292 shares during the quarter. CWM LLC's holdings in CDW were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDW. Orion Capital Management LLC purchased a new position in CDW in the fourth quarter worth approximately $30,000. Optiver Holding B.V. grew its position in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the period. Golden State Wealth Management LLC grew its position in CDW by 237.2% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 185 shares during the period. Global X Japan Co. Ltd. purchased a new position in CDW in the first quarter worth approximately $43,000. Finally, Quarry LP purchased a new position in CDW in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Up 0.4%

NASDAQ:CDW traded up $0.64 during midday trading on Monday, reaching $181.78. The company had a trading volume of 545,581 shares, compared to its average volume of 760,666. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 3.04 and a beta of 0.93. The stock's fifty day simple moving average is $178.48 and its 200-day simple moving average is $175.84. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $237.48. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. CDW's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the firm's 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 sale, the insider directly owned 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction on 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 completion of the sale, the insider owned 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays lowered their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. 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, July 17th. Finally, UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $208.50.

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.