Oak Thistle LLC Takes Position in CDW Corporation (NASDAQ:CDW)

Oak Thistle LLC acquired a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 4,160 shares of the information technology services provider's stock, valued at approximately $667,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. KLP Kapitalforvaltning AS lifted its stake in CDW by 71.9% during the first quarter. KLP Kapitalforvaltning AS now owns 78,400 shares of the information technology services provider's stock worth $12,564,000 after purchasing an additional 32,800 shares in the last quarter. United Bank grew its holdings in shares of CDW by 12.2% during the first quarter. United Bank now owns 6,629 shares of the information technology services provider's stock worth $1,062,000 after buying an additional 720 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of CDW by 100.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 7,458 shares of the information technology services provider's stock worth $1,195,000 after purchasing an additional 3,738 shares during the last quarter. GW&K Investment Management LLC raised its holdings in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of CDW by 2.5% during the 1st quarter. Allianz Asset Management GmbH now owns 14,136 shares of the information technology services provider's stock worth $2,265,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Up 0.2%

Shares of NASDAQ:CDW traded up $0.31 during trading on Friday, reaching $181.14. 631,840 shares of the company traded hands, compared to its average volume of 867,765. The firm has a market cap of $23.85 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93. The firm has a fifty day simple moving average of $178.76 and a 200 day simple moving average of $175.93. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $237.48.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $1.92 EPS. The business's quarterly revenue was up 6.7% on a year-over-year basis. Analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. CDW's payout ratio is 30.98%.

Insider Activity

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the transaction, the insider owned 36,077 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated 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 transaction, the insider owned 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

CDW has been the subject of a number of research reports. Citigroup upped their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays dropped their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. UBS Group lowered their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, CDW has an average rating of "Hold" and an average target price of $208.50.

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.