M&T Bank Corp Has $3.64 Million Position in CDW Corporation (NASDAQ:CDW)

M&T Bank Corp cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 23.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,712 shares of the information technology services provider's stock after selling 6,784 shares during the quarter. M&T Bank Corp's holdings in CDW were worth $3,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC lifted its position in shares of CDW by 5.5% in the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider's stock worth $687,000 after purchasing an additional 205 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in CDW in the 4th quarter valued at $27,243,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CDW by 2.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,644 shares of the information technology services provider's stock worth $4,811,000 after buying an additional 611 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of CDW by 6.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 28,634 shares of the information technology services provider's stock worth $4,983,000 after buying an additional 1,635 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of CDW by 16.0% in the 4th quarter. Farther Finance Advisors LLC now owns 681 shares of the information technology services provider's stock valued at $119,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Down 0.6%

CDW stock opened at $179.70 on Friday. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. The business's 50 day simple moving average is $178.83 and its 200 day simple moving average is $175.69. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $23.66 billion, a PE ratio of 22.27, a PEG ratio of 3.04 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. As a group, research analysts anticipate that CDW Corporation will post 9.41 EPS for the current 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 given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW's dividend payout ratio (DPR) is presently 30.98%.

Insider Buying and Selling

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 value of $5,375,553.10. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on 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 sale, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CDW. Barclays dropped their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group lowered their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, CDW presently has a consensus rating of "Hold" and an average target price of $208.71.

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.

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