Envestnet Asset Management Inc. Acquires 35,737 Shares of CDW Corporation (NASDAQ:CDW)

Envestnet Asset Management Inc. increased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 20.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,506 shares of the information technology services provider's stock after purchasing an additional 35,737 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of CDW worth $33,255,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its position in CDW by 2.7% in the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock valued at $471,000 after buying an additional 72 shares during the last quarter. Benin Management CORP raised its position in CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after buying an additional 80 shares during the last quarter. GAMMA Investing LLC raised its position in CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after buying an additional 81 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in CDW by 6.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,315 shares of the information technology services provider's stock valued at $211,000 after buying an additional 84 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in CDW by 19.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 534 shares of the information technology services provider's stock valued at $86,000 after buying an additional 86 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CDW. Citigroup lifted their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday. Barclays lowered their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group lowered their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CDW presently has an average rating of "Hold" and a consensus target price of $211.57.

Insider Buying and Selling

In related news, 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 transaction, the insider directly owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction 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 business's stock in a transaction that occurred 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 transaction, the insider directly owned 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

CDW Stock Down 1.3%

NASDAQ:CDW opened at $177.38 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 2.99 and a beta of 0.93. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The stock's 50 day moving average price is $179.04 and its two-hundred day moving average price is $175.68.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion for 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%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. Equities research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued 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 was Friday, May 23rd. CDW's payout ratio is presently 30.98%.

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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