IRON Financial LLC Invests $533,000 in CDW Corporation (NASDAQ:CDW)

IRON Financial LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,325 shares of the information technology services provider's stock, valued at approximately $533,000.

A number of other institutional investors have also recently bought and sold shares of CDW. D. E. Shaw & Co. Inc. boosted its stake in shares of CDW by 906.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after acquiring an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. lifted its holdings in CDW by 17,349.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after purchasing an additional 1,372,874 shares during the last quarter. Norges Bank bought a new position in CDW during the fourth quarter worth $144,826,000. Madison Investment Advisors LLC acquired a new position in shares of CDW in the fourth quarter valued at $130,996,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of CDW in the fourth quarter valued at $105,705,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Transactions at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. 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 traded down $0.79 during mid-day trading on Thursday, hitting $182.06. 494,454 shares of the company's stock were exchanged, compared to its average volume of 1,238,079. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26. The stock's 50-day simple moving average is $176.35 and its 200-day simple moving average is $175.46. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.20 billion during 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%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. On average, equities research analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

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

Analyst Ratings Changes

CDW has been the subject of a number of research reports. 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. Citigroup raised their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, CDW currently has an average rating of "Hold" and a consensus price target of $208.71.

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.