IRON Financial LLC Buys New Shares in CDW Corporation (NASDAQ:CDW)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in CDW by 2.3% in the 1st quarter. Amalgamated Bank now owns 27,342 shares of the information technology services provider's stock valued at $4,382,000 after buying an additional 619 shares in the last quarter. Hills Bank & Trust Co boosted its position in CDW by 0.9% in the 1st quarter. Hills Bank & Trust Co now owns 12,467 shares of the information technology services provider's stock valued at $1,998,000 after buying an additional 110 shares during the last quarter. KBC Group NV increased its position in CDW by 42.9% in the first quarter. KBC Group NV now owns 43,957 shares of the information technology services provider's stock worth $7,044,000 after purchasing an additional 13,204 shares during the period. Crescent Grove Advisors LLC grew its position in shares of CDW by 3.0% during the 1st quarter. Crescent Grove Advisors LLC now owns 142,731 shares of the information technology services provider's stock worth $22,874,000 after buying an additional 4,184 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CDW by 1.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after acquiring an additional 94 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Insider Activity

In other 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 now directly owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 now owns 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. 0.90% of the stock is currently owned by insiders.

CDW Stock Performance

Shares of CDW opened at $177.41 on Monday. The firm's 50 day moving average price is $174.60 and its two-hundred day moving average price is $175.35. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The firm has a market cap of $23.36 billion, a P/E ratio of 21.98, a PEG ratio of 2.99 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its 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. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. On average, analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared 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 was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW's dividend payout ratio (DPR) is presently 30.98%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CDW shares. Barclays reduced their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Citigroup lifted their price target 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. Finally, JPMorgan Chase & Co. lowered their price objective 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.

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