KBC Group NV Boosts Holdings in CDW Corporation (NASDAQ:CDW)

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

Other large investors also recently bought and sold shares of the company. Unison Asset Management LLC raised its stake in CDW by 9.4% in the first quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after buying an additional 3,657 shares in the last quarter. Franklin Resources Inc. raised its stake in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after buying an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC bought a new position in CDW in the fourth quarter worth approximately $130,996,000. Wellington Management Group LLP raised its stake in CDW by 29.2% in 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 buying an additional 574,444 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in CDW by 8.7% in the first quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock worth $3,204,000 after buying an additional 1,604 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDW. UBS Group reduced their price objective 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. Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays cut their price target 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. Finally, JPMorgan Chase & Co. cut their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $208.71.

CDW Stock Down 0.4%

NASDAQ CDW traded down $0.79 on Friday, hitting $182.06. The stock had a trading volume of 494,454 shares, compared to its average volume of 1,242,401. The business's fifty day moving average price is $177.29 and its 200 day moving average price is $175.55. 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 52-week low of $137.31 and a 52-week high of $241.26. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 3.07 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 analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

Insiders Place Their Bets

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction 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 directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction 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 sale, the insider directly owned 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 disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

About CDW

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.