Cynosure Group LLC Has $337,000 Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Cynosure Group LLC significantly reduced its stake in CDW Corporation by 82.8%, resulting in holdings worth $337,000 after selling over 10,000 shares in Q1.
• Institutional investors now own approximately 93.15% of CDW's stock, with companies like Vanguard Group and Massachusetts Financial Services increasing their stakes.
• CDW recently announced a quarterly dividend of $0.625 per share, set to be paid on September 10th, representing an annual yield of 1.5%.

Cynosure Group LLC lessened its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 82.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,100 shares of the information technology services provider's stock after selling 10,121 shares during the quarter. Cynosure Group LLC's holdings in CDW were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in CDW by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after purchasing an additional 72,550 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after purchasing an additional 378,841 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after acquiring an additional 1,823,788 shares in the last quarter. Janus Henderson Group PLC raised its stake in CDW by 10.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock worth $282,701,000 after acquiring an additional 157,747 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CDW by 2.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,508,543 shares of the information technology services provider's stock worth $241,759,000 after acquiring an additional 42,472 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Buying and Selling

In related news, insider Frederick J. Kulevich sold 28,159 shares of the company'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 value of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays lowered their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday. UBS Group lowered their target price on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. boosted 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. Finally, Citigroup boosted their price target on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of "Hold" and an average target price of $202.00.

CDW Stock Performance

NASDAQ:CDW opened at $162.92 on Monday. The stock has a market cap of $21.35 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The stock's 50-day moving average is $176.17 and its 200-day moving average is $174.65. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%. The business had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's dividend payout ratio is presently 31.06%.

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.

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