Mirae Asset Global Investments Co. Ltd. Has $6.93 Million Position in CDW Corporation (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. increased its holdings 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 and Exchange Commission. The fund owned 42,926 shares of the information technology services provider's stock after purchasing an additional 6,869 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in CDW were worth $6,933,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CDW. Vanguard Group Inc. raised its holdings in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after purchasing an additional 99,947 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP lifted its position in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the period. Invesco Ltd. boosted its holdings in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after acquiring an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of CDW 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 completion of the sale, the insider owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction 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 sale, the insider directly owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. reduced their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup raised their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. UBS Group cut 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. Finally, Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $208.71.

CDW Stock Performance

Shares of CDW traded down $0.79 during trading hours on Friday, reaching $182.06. 494,454 shares of the company's stock traded hands, compared to its average volume of 1,240,447. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The business's fifty day simple moving average is $177.29 and its two-hundred day simple moving average is $175.53. 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 firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 3.07 and a beta of 0.93.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. CDW's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

CDW Company 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.