Janney Montgomery Scott LLC Lowers Stock Holdings in CDW Corporation (NASDAQ:CDW)

Janney Montgomery Scott LLC lowered its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of CDW during the fourth quarter valued at approximately $30,000. Allworth Financial LP increased 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 valued at $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust increased its position in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. increased its position in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after buying an additional 119 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock traded up $3.15 on Monday, hitting $173.77. 1,268,036 shares of the company were exchanged, compared to its average volume of 1,238,255. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.87 and a beta of 0.95. The company has a 50-day moving average price of $171.97 and a 200 day moving average price of $175.43. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. 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 (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The firm's quarterly revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's payout ratio is currently 30.98%.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW 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 now owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on 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 lowered their price target 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 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, the stock 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.