Sequoia Financial Advisors LLC Has $3.20 Million Stock Position in CDW Corporation (NASDAQ:CDW)

Sequoia Financial Advisors LLC grew its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,995 shares of the information technology services provider's stock after purchasing an additional 1,604 shares during the period. Sequoia Financial Advisors LLC's holdings in CDW were worth $3,204,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in CDW during the 4th quarter worth $30,000. OFI Invest Asset Management acquired a new stake in shares of CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust raised its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 119 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 185 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider owned 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. Corporate insiders own 0.90% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded up $1.50 during mid-day trading on Wednesday, reaching $182.66. 437,412 shares of the company's stock were exchanged, compared to its average volume of 1,238,900. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. 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 business's fifty day simple moving average is $175.79 and its two-hundred day simple moving average is $175.41. The firm has a market capitalization of $24.05 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 3.01 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results 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. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same period in the previous year, the company earned $1.92 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared 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. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) 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.