Florida Financial Advisors LLC Sells 1,683 Shares of CDW Corporation (NASDAQ:CDW)

Florida Financial Advisors LLC trimmed its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 55.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,341 shares of the information technology services provider's stock after selling 1,683 shares during the quarter. Florida Financial Advisors LLC's holdings in CDW were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CDW. Diversify Wealth Management LLC raised its stake in shares of CDW by 33.1% during the first quarter. Diversify Wealth Management LLC now owns 4,301 shares of the information technology services provider's stock valued at $688,000 after purchasing an additional 1,069 shares in the last quarter. Xponance Inc. raised its stake in shares of CDW by 2.8% during the first quarter. Xponance Inc. now owns 26,487 shares of the information technology services provider's stock valued at $4,245,000 after purchasing an additional 730 shares in the last quarter. Allworth Financial LP raised its stake in shares of CDW by 101.6% during the first quarter. Allworth Financial LP now owns 369 shares of the information technology services provider's stock valued at $59,000 after purchasing an additional 186 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in shares of CDW by 6.6% during the first quarter. Quotient Wealth Partners LLC now owns 1,340 shares of the information technology services provider's stock valued at $215,000 after purchasing an additional 83 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of CDW by 9.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,700 shares of the information technology services provider's stock valued at $753,000 after purchasing an additional 413 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CDW shares. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays lowered their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup lifted their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $215.86.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction 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 owned 36,077 shares of the company's stock, 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. Insiders own 0.84% of the company's stock.

CDW Trading Up 2.4%

CDW traded up $4.26 during trading on Thursday, reaching $179.99. The company had a trading volume of 991,405 shares, compared to its average volume of 1,235,943. The firm's 50-day simple moving average is $179.52 and its 200 day simple moving average is $175.70. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.96 and a beta of 0.93. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $239.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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 firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. Equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW's dividend payout ratio (DPR) is presently 30.98%.

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.