Hixon Zuercher LLC Increases Holdings in CDW Corporation (NASDAQ:CDW)

Hixon Zuercher LLC raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 30.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,160 shares of the information technology services provider's stock after purchasing an additional 1,681 shares during the period. Hixon Zuercher LLC's holdings in CDW were worth $1,147,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in CDW during the 4th quarter valued at $30,000. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Optiver Holding B.V. raised its stake in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in CDW by 237.2% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 185 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the firm's 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 transaction, the insider directly owned 144,931 shares in the company, valued at $26,293,382.02. The trade was 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 insiders.

CDW Stock Performance

CDW stock traded up $2.57 during midday trading on Tuesday, hitting $181.16. 958,397 shares of the stock traded hands, compared to its average volume of 1,240,766. The firm has a market cap of $23.86 billion, a P/E ratio of 22.45, a PEG ratio of 2.99 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. The stock's fifty day simple moving average is $175.21 and its 200-day simple moving average is $175.37. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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 $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. CDW's 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.