First National Advisers LLC Has $3.14 Million Position in CDW Corporation (NASDAQ:CDW)

Key Points

• First National Advisers LLC increased its stake in CDW Corporation by 20.1%, acquiring an additional 3,279 shares, resulting in total holdings worth $3.14 million.
• CDW Corporation recently reported $2.15 earnings per share for the quarter, exceeding analysts' expectations, with year-over-year revenue growth of 6.7%.
• The company declared a quarterly dividend of $0.625 per share, representing an annual yield of 1.38% and a payout ratio of 30.98%.

First National Advisers LLC raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,594 shares of the information technology services provider's stock after purchasing an additional 3,279 shares during the period. First National Advisers LLC's holdings in CDW were worth $3,140,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. D. E. Shaw & Co. Inc. increased its holdings in shares of CDW by 906.9% during the 4th 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 buying an additional 1,823,788 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after purchasing an additional 1,372,874 shares during the period. Norges Bank purchased a new position in shares of CDW in the 4th quarter worth about $144,826,000. Voloridge Investment Management LLC acquired a new stake in CDW during the 4th quarter worth approximately $105,705,000. Finally, Massachusetts Financial Services Co. MA increased its position in CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.2%

NASDAQ CDW traded up $0.40 during trading on Tuesday, reaching $182.18. 641,848 shares of the company's stock were exchanged, compared to its average volume of 741,092. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $237.48. The firm has a market capitalization of $23.99 billion, a PE ratio of 22.57, a P/E/G ratio of 3.05 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The company's fifty day simple moving average is $178.48 and its 200-day simple moving average is $175.84.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business posted $1.92 EPS. CDW's quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, May 23rd. CDW's payout ratio is currently 30.98%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of research reports. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $208.50.

Insider Buying and Selling at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the company'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 value of $7,423,162.14. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.