Moran Wealth Management LLC Has $5 Million Stock Holdings in CDW Corporation (NASDAQ:CDW)

Moran Wealth Management LLC increased its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 14.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,189 shares of the information technology services provider's stock after acquiring an additional 3,920 shares during the quarter. Moran Wealth Management LLC's holdings in CDW were worth $4,998,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP grew its stake in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Global Retirement Partners LLC grew its position in CDW by 16.4% during the fourth quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider's stock valued at $92,000 after purchasing an additional 75 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in CDW by 9.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 3,720 shares of the information technology services provider's stock valued at $647,000 after purchasing an additional 316 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CDW by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider's stock valued at $170,476,000 after buying an additional 40,666 shares during the period. Finally, Advisor OS LLC boosted its stake in shares of CDW by 151.1% during the 4th quarter. Advisor OS LLC now owns 3,649 shares of the information technology services provider's stock valued at $635,000 after buying an additional 2,196 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDW. Barclays cut their price objective 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. dropped their target price on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, CDW currently has an average rating of "Hold" and a consensus target price of $208.71.

Insider Activity at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction on 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 transaction, the insider now owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

CDW Stock Down 0.3%

Shares of CDW traded down $0.55 during trading hours on Thursday, hitting $177.28. 932,824 shares of the company were exchanged, compared to its average volume of 1,239,220. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market cap of $23.35 billion, a PE ratio of 21.97, a PEG ratio of 3.03 and a beta of 0.95. The firm's 50 day moving average is $173.57 and its 200-day moving average is $175.44. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last announced 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. 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 quarter in the prior year, the business earned $1.92 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. On average, equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a $0.625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW's payout ratio is presently 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.