KBC Group NV Purchases 13,204 Shares of CDW Corporation (NASDAQ:CDW)

KBC Group NV grew its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 42.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,957 shares of the information technology services provider's stock after purchasing an additional 13,204 shares during the quarter. KBC Group NV's holdings in CDW were worth $7,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Unison Asset Management LLC raised its position in CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after purchasing an additional 3,657 shares during the last quarter. Franklin Resources Inc. grew its position in shares of CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after buying an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of CDW in the fourth quarter valued at about $130,996,000. Wellington Management Group LLP raised its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 0.9%

Shares of NASDAQ:CDW traded up $1.68 during mid-day trading on Wednesday, hitting $182.84. The company had a trading volume of 738,210 shares, compared to its average volume of 1,239,980. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. The firm has a fifty day moving average price of $175.79 and a 200 day moving average price of $175.41. The company has a market capitalization of $24.08 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.01 and a beta of 0.93.

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. 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 business's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued 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 dividend yield of 1.37%. CDW's dividend payout ratio is 30.98%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDW. UBS Group reduced their target price on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Citigroup upped their price objective 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. JPMorgan Chase & Co. lowered 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. Finally, Barclays dropped their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $208.71.

Insider Buying and Selling at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the company'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 sale, the insider owned 144,931 shares in the company, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $5,375,553.10. Following the completion of the transaction, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.