Mawer Investment Management Ltd. Trims Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Mawer Investment Management Ltd. has reduced its holdings in CDW Corporation by 7.0%, now owning approximately 2.2% of the company, after selling 212,902 shares.
• Insider Frederick J. Kulevich sold 28,159 shares at an average price of $190.90, representing a 43.84% decrease in his position.
• CDW has seen recent price target adjustments from analysts, with Barclays lowering it to $205.00 while JPMorgan Chase & Co. raised their target to the same amount, indicating a general sentiment of "neutral" for the stock.

Mawer Investment Management Ltd. lessened its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,829,018 shares of the information technology services provider's stock after selling 212,902 shares during the quarter. CDW comprises 2.2% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 14th biggest holding. Mawer Investment Management Ltd. owned about 2.15% of CDW worth $453,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC raised its holdings in shares of CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new stake in CDW in the 4th quarter worth about $30,000. Optiver Holding B.V. increased its stake in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the last quarter. Golden State Wealth Management LLC lifted its position 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 buying an additional 185 shares in the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in shares of CDW during the 1st quarter worth approximately $43,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CDW

In other 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 transaction of $7,423,162.14. Following the sale, the insider owned 144,931 shares of the company's stock, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's 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 transaction, 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

CDW Stock Up 0.2%

Shares of CDW stock traded up $0.40 during midday trading on Tuesday, hitting $182.18. The company had a trading volume of 641,848 shares, compared to its average volume of 741,092. The company has a 50 day moving average of $178.48 and a 200 day moving average of $175.84. The stock has a market capitalization of $23.99 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.05 and a beta of 0.93. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $237.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the firm posted $1.92 EPS. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. CDW's dividend payout ratio (DPR) is presently 30.98%.

Analyst Ratings Changes

A number of brokerages recently commented on CDW. UBS Group decreased 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. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. 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. Finally, Citigroup lifted their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, CDW currently has a consensus rating of "Hold" and an average target price of $208.50.

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.