Foster & Motley Inc. Sells 1,496 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Foster & Motley Inc. reduced its stock position in CDW Corporation by 6.5%, now holding 21,554 shares valued at approximately $3.45 million after selling 1,496 shares in the first quarter.
• Various institutional investors, including Vestcor Inc and TD Private Client Wealth LLC, have adjusted their stakes in CDW, with notable increases, resulting in 93.15% of CDW being owned by institutional investors.
• CDW's stock price has seen recent adjustments from analysts, with Barclays lowering their price target from $223 to $205, while JPMorgan raised theirs from $185 to $205, indicating mixed sentiments among analysts on the stock's value.

Foster & Motley Inc. trimmed its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,554 shares of the information technology services provider's stock after selling 1,496 shares during the quarter. Foster & Motley Inc.'s holdings in CDW were worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vestcor Inc increased its position in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after buying an additional 71 shares in the last quarter. TD Private Client Wealth LLC increased its position in CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after buying an additional 72 shares in the last quarter. GW&K Investment Management LLC increased its position in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Benin Management CORP increased 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 in the last quarter. Finally, GAMMA Investing LLC increased 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 in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup boosted their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays decreased 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. UBS Group decreased their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, CDW currently has an average rating of "Hold" and a consensus price target of $208.50.

Insider Buying and Selling at CDW

In other CDW news, 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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 0.84% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded down $5.52 during trading on Friday, hitting $168.86. The company's stock had a trading volume of 1,165,055 shares, compared to its average volume of 776,780. The company has a market cap of $22.24 billion, a PE ratio of 20.92, a P/E/G ratio of 2.93 and a beta of 0.95. 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 business has a fifty day moving average of $177.88 and a 200-day moving average of $175.75. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 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 for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, 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 was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio is currently 30.98%.

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.