CDW Corporation (NASDAQ:CDW) Shares Sold by HM Payson & Co.

HM Payson & Co. lowered its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 358,876 shares of the information technology services provider's stock after selling 2,778 shares during the period. HM Payson & Co. owned approximately 0.27% of CDW worth $57,513,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in CDW by 41.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider's stock valued at $416,000 after buying an additional 701 shares during the period. Smartleaf Asset Management LLC lifted its holdings in CDW by 19.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 779 shares of the information technology services provider's stock valued at $135,000 after buying an additional 129 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CDW by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,858 shares of the information technology services provider's stock valued at $138,685,000 after buying an additional 21,618 shares during the period. Proficio Capital Partners LLC lifted its holdings in CDW by 5.5% in the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider's stock valued at $687,000 after buying an additional 205 shares during the period. Finally, Arizona State Retirement System lifted its holdings in CDW by 0.7% in the fourth quarter. Arizona State Retirement System now owns 38,784 shares of the information technology services provider's stock valued at $6,750,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on Tuesday, May 13th. The shares were 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 in the company, valued at $6,887,099.30. The trade was 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 CDW stock in a transaction dated 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 completion of the transaction, the insider directly owned 144,931 shares of the company's stock, 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. 0.84% of the stock is owned by insiders.

CDW Stock Performance

Shares of CDW stock traded down $0.79 during trading on Friday, hitting $182.06. The company's stock had a trading volume of 494,454 shares, compared to its average volume of 1,242,401. The company has a market cap of $23.97 billion, a PE ratio of 19.42, a P/E/G ratio of 3.07 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 business has a fifty day moving average of $177.29 and a 200-day moving average of $175.53. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The firm'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 Dividend Announcement

The firm also recently declared 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. This represents a $2.50 dividend on an annualized basis 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

Several equities research analysts have recently issued reports on CDW shares. Barclays lowered their price objective 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 raised their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, CDW currently has a consensus rating of "Hold" and an average target price of $208.71.

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.