Mediolanum International Funds Ltd Has $4.67 Million Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Mediolanum International Funds Ltd reduced its stake in CDW Corporation by 7.7% in the first quarter, now holding 28,908 shares valued at approximately $4.67 million.
• Multiple hedge funds increased their investments in CDW, with notable raises from Cetera Investment Advisers (67.6%) and Avantax Advisory Services Inc. (51.6%) during the same quarter.
• CDW announced a quarterly dividend of $0.625, with a yield of 1.38%, marking an annualized payout of $2.50.

Mediolanum International Funds Ltd cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,908 shares of the information technology services provider's stock after selling 2,428 shares during the period. Mediolanum International Funds Ltd's holdings in CDW were worth $4,669,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. D. E. Shaw & Co. Inc. raised its holdings in shares of CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after buying an additional 1,823,788 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after purchasing an additional 1,372,874 shares in the last quarter. Norges Bank acquired a new stake in shares of CDW in the 4th quarter valued at $144,826,000. Voloridge Investment Management LLC acquired a new stake in shares of CDW in the 4th quarter valued at $105,705,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Transactions at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider owned 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated 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 owned 144,931 shares of the company's stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

CDW Stock Up 0.2%

NASDAQ:CDW traded up $0.40 on Tuesday, hitting $182.18. 641,848 shares of the company's stock were exchanged, compared to its average volume of 1,322,430. The firm has a 50-day moving average price of $178.48 and a 200-day moving average price of $175.84. 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 current ratio of 1.32 and a quick ratio of 1.20. The company has a market cap of $23.99 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results 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 return on equity of 54.90% and a net margin of 5.10%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's payout ratio is currently 30.98%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. 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 report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $208.50.

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.