Perpetual Ltd Sells 91,054 Shares of CDW Corporation (NASDAQ:CDW)

Perpetual Ltd lessened its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 holdings, making the stock its 21st biggest holding. Perpetual Ltd owned about 0.54% of CDW worth $113,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC lifted its stake in CDW by 16.4% in the fourth quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider's stock valued at $92,000 after buying an additional 75 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of CDW by 9.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 3,720 shares of the information technology services provider's stock valued at $647,000 after acquiring an additional 316 shares during the period. Bank of New York Mellon Corp boosted its stake in CDW by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider's stock worth $170,476,000 after acquiring an additional 40,666 shares in the last quarter. Advisor OS LLC boosted its stake in CDW by 151.1% during the fourth quarter. Advisor OS LLC now owns 3,649 shares of the information technology services provider's stock worth $635,000 after acquiring an additional 2,196 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in CDW by 41.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider's stock worth $416,000 after purchasing an additional 701 shares during the period. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 144,931 shares of the company's stock, valued at $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 insiders.

CDW Stock Performance

Shares of CDW stock opened at $177.28 on Friday. The company has a market cap of $23.34 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. 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 52 week low of $137.31 and a 52 week high of $241.26. The business has a 50 day moving average price of $174.08 and a 200-day moving average price of $175.40.

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, beating 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 return on equity of 54.90% and a net margin of 5.10%. The business's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. Equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid 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 dividend yield of 1.41%. CDW's payout ratio is currently 30.98%.

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.

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