Mirae Asset Global Investments Co. Ltd. Purchases 6,869 Shares of CDW Corporation (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 19.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,926 shares of the information technology services provider's stock after buying an additional 6,869 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CDW were worth $6,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in CDW during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new position in shares of CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust boosted its stake in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Optiver Holding B.V. increased its position 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 worth $40,000 after buying an additional 119 shares during the period. Finally, Golden State Wealth Management LLC increased its position in CDW by 237.2% during the first 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 during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Activity

In related news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the sale, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider owned 144,931 shares in the company, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company's stock.

CDW Trading Down 0.4%

CDW stock traded down $0.79 during mid-day trading on Thursday, hitting $182.06. 494,451 shares of the company's stock were exchanged, compared to its average volume of 1,238,079. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week 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 has a market capitalization of $23.97 billion, a P/E ratio of 22.56, a PEG ratio of 3.05 and a beta of 0.93. The company's 50 day simple moving average is $176.35 and its 200-day simple moving average is $175.46.

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDW shares. Barclays lowered 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. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW currently has an average rating of "Hold" and an average price target of $208.71.

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.