Montag A & Associates Inc. Reduces Stake in CDW Corporation (NASDAQ:CDW)

Montag A & Associates Inc. reduced its position in CDW Corporation (NASDAQ:CDW - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,693 shares of the information technology services provider's stock after selling 4,072 shares during the period. Montag A & Associates Inc.'s holdings in CDW were worth $3,637,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. lifted its position in CDW by 906.9% during the fourth 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 during the period. Alyeska Investment Group L.P. grew its position in CDW by 17,349.6% during the fourth 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 acquiring an additional 1,372,874 shares during the period. Norges Bank purchased a new stake in CDW during the fourth quarter valued at about $144,826,000. Voloridge Investment Management LLC purchased a new stake in CDW during the fourth quarter valued at about $105,705,000. Finally, Massachusetts Financial Services Co. MA grew its position in CDW by 31.3% during the fourth 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 acquiring an additional 575,333 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday. Citigroup boosted their price target on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. UBS Group cut their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Barclays cut their price target 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $208.50.

Insider Buying and Selling

In related news, 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 value of $5,375,553.10. Following the completion of the transaction, the insider owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

CDW Price Performance

NASDAQ CDW opened at $179.59 on Friday. 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 stock's 50-day moving average is $179.53 and its two-hundred day moving average is $175.79. The firm has a market cap of $23.65 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.02 and a beta of 0.93. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $237.48.

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 analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the business earned $1.92 earnings per share. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 1.39%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's payout ratio is 30.98%.

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.

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