Perpetual Ltd Lowers Stock Holdings in CDW Corporation (NASDAQ:CDW)

Perpetual Ltd trimmed its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 710,462 shares of the information technology services provider's stock after selling 91,054 shares during the period. CDW accounts for 1.4% of Perpetual Ltd's portfolio, making the stock its 21st largest holding. Perpetual Ltd owned approximately 0.54% of CDW worth $113,859,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Unison Asset Management LLC grew its stake in shares of CDW by 9.4% in the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after buying an additional 3,657 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after buying an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of CDW in the 4th quarter worth $130,996,000. Wellington Management Group LLP grew its stake in shares of CDW by 29.2% in 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 buying an additional 574,444 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake 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 worth $614,220,000 after buying an additional 54,341 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CDW shares. JPMorgan Chase & Co. dropped their price objective 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. Barclays dropped their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note 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 for the company in a report on Thursday, May 8th. Finally, Citigroup raised their target price on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report 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, the company presently has a consensus rating of "Hold" and a consensus target price of $208.71.

CDW Trading Up 0.7%

Shares of CDW stock traded up $1.18 during trading on Monday, hitting $178.59. The stock had a trading volume of 937,057 shares, compared to its average volume of 1,241,896. The firm's fifty day simple moving average is $175.21 and its 200-day simple moving average is $175.37. The stock has a market cap of $23.52 billion, a PE ratio of 22.13, a PEG ratio of 2.99 and a beta of 0.95. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $241.26.

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 the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. As a group, sell-side analysts expect that CDW Corporation will post 9.41 EPS 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 given a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW's dividend payout ratio (DPR) is 30.98%.

Insider Activity

In other CDW 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 value of $5,375,553.10. Following the completion of the sale, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

CDW 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.