Massachusetts Financial Services Co. MA Acquires 378,841 Shares of CDW Corporation (NASDAQ:CDW)

Massachusetts Financial Services Co. MA grew its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,792,934 shares of the information technology services provider's stock after purchasing an additional 378,841 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.12% of CDW worth $447,596,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of CDW in the 4th quarter valued at about $30,000. Optiver Holding B.V. raised its stake in shares of CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 185 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of CDW during the 1st quarter worth approximately $43,000. Finally, Quarry LP bought a new position in shares of CDW during the 4th quarter worth approximately $48,000. Institutional investors own 93.15% of the company's stock.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction on 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 directly owned 144,931 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the company'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 completion of the sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CDW shares. Citigroup boosted their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective 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. 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. Finally, Barclays reduced their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $211.57.

CDW Stock Up 0.2%

NASDAQ:CDW opened at $177.70 on Tuesday. The company has a market cap of $23.40 billion, a PE ratio of 22.02, a P/E/G ratio of 2.99 and a beta of 0.93. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The company's 50 day moving average is $179.04 and its two-hundred day moving average is $175.68.

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, topping the consensus estimate of $1.96 by $0.19. The company had revenue of $5.20 billion for 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%. CDW's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

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.

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