467,416 Shares in CDW Corporation (NASDAQ:CDW) Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new stake in CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 467,416 shares of the information technology services provider's stock, valued at approximately $74,908,000. Manning & Napier Advisors LLC owned approximately 0.35% of CDW as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CDW. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter valued at $30,000. Allworth Financial LP boosted its stake 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 buying an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. lifted its stake in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, 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 position. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

CDW Trading Down 1.1%

Shares of NASDAQ CDW traded down $2.01 during midday trading on Wednesday, reaching $177.83. The company had a trading volume of 1,021,185 shares, compared to its average volume of 1,240,443. CDW Corporation has a one year low of $137.31 and a one 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. The firm's fifty day moving average price is $173.57 and its 200-day moving average price is $175.44. The stock has a market cap of $23.42 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.03 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results 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. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company posted $1.92 EPS. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW's dividend payout ratio is presently 30.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDW shares. JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. 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. Finally, UBS Group dropped their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently 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.