Hixon Zuercher LLC Boosts Stake in CDW Corporation (NASDAQ:CDW)

Hixon Zuercher LLC grew its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 30.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,160 shares of the information technology services provider's stock after acquiring an additional 1,681 shares during the period. Hixon Zuercher LLC's holdings in CDW were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after buying an additional 99,947 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Invesco Ltd. boosted its stake in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after acquiring an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CDW by 31.3% during the fourth 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 hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ CDW traded down $0.79 during midday trading on Friday, reaching $182.06. 494,454 shares of the stock traded hands, compared to its average volume of 1,240,447. The company's 50 day moving average is $177.29 and its 200 day moving average is $175.53. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The stock has a market capitalization of $23.97 billion, a PE ratio of 22.56, a P/E/G ratio of 3.07 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. CDW's revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's payout ratio is 30.98%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CDW. Citigroup boosted their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group reduced their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays dropped their target price 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. Finally, JPMorgan Chase & Co. cut their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $208.71.

Insider Activity

In other 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction 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 sale, the insider owned 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

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.