Janney Montgomery Scott LLC Sells 2,547 Shares of CDW Corporation (NASDAQ:CDW)

Janney Montgomery Scott LLC cut its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,346 shares of the information technology services provider's stock after selling 2,547 shares during the period. Janney Montgomery Scott LLC's holdings in CDW were worth $5,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP grew its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after purchasing an additional 61 shares in the last quarter. Signaturefd LLC increased its position in shares of CDW by 2.7% during the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock valued at $471,000 after purchasing an additional 72 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of CDW by 16.4% during the fourth quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider's stock valued at $92,000 after purchasing an additional 75 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW traded down $0.55 on Thursday, hitting $177.28. The stock had a trading volume of 933,604 shares, compared to its average volume of 1,239,926. The firm's 50 day moving average price is $174.08 and its 200-day moving average price is $175.40. 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 company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) 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 the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.92 EPS. On average, equities research analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is currently 30.98%.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 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 can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly 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. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays decreased their price target 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. 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 report on Thursday, April 17th. Citigroup upped their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, UBS Group cut their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of "Hold" and an average price target of $208.71.

CDW Company 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.