EULAV Asset Management Sells 40,000 Shares of CDW Corporation (NASDAQ:CDW)

EULAV Asset Management cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 343,712 shares of the information technology services provider's stock after selling 40,000 shares during the quarter. CDW accounts for 1.4% of EULAV Asset Management's portfolio, making the stock its 21st largest position. EULAV Asset Management owned about 0.26% of CDW worth $55,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Proficio Capital Partners LLC raised its position in CDW by 5.5% during the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider's stock valued at $687,000 after acquiring an additional 205 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CDW in the fourth quarter valued at approximately $27,243,000. Kendall Capital Management grew its stake in shares of CDW by 12.1% in the fourth quarter. Kendall Capital Management now owns 28,555 shares of the information technology services provider's stock worth $4,970,000 after acquiring an additional 3,093 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of CDW in the fourth quarter worth $32,000. Finally, AlphaQuest LLC acquired a new stake in shares of CDW in the fourth quarter worth $631,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $5,375,553.10. Following the sale, the insider owned 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the company'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 sale, the insider owned 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

CDW Trading Up 1.9%

Shares of NASDAQ:CDW traded up $3.29 during mid-day trading on Tuesday, reaching $180.65. The stock had a trading volume of 847,623 shares, compared to its average volume of 1,239,701. The firm has a market cap of $23.79 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.99 and a beta of 0.93. The firm has a 50 day simple moving average of $177.67 and a two-hundred day simple moving average of $175.59. 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 Corporation has a twelve month low of $137.31 and a twelve month high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 return on equity of 54.90% and a net margin of 5.10%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the firm earned $1.92 EPS. CDW's quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) is currently 30.98%.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group cut their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Barclays dropped their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $208.71.

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.