Sequoia Financial Advisors LLC Increases Stock Position in CDW Corporation (NASDAQ:CDW)

Sequoia Financial Advisors LLC lifted its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the 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 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Y Intercept Hong Kong Ltd lifted its position in CDW by 9.3% during the fourth 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 last quarter. Oppenheimer & Co. Inc. lifted its position in CDW by 41.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider's stock valued at $416,000 after acquiring an additional 701 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. SVB Wealth LLC purchased a new stake in CDW during the fourth quarter valued at approximately $7,286,000. Finally, Metis Global Partners LLC lifted its position in CDW by 5.1% during the fourth quarter. Metis Global Partners LLC now owns 4,516 shares of the information technology services provider's stock valued at $786,000 after acquiring an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Up 0.1%

NASDAQ:CDW opened at $177.41 on Friday. The firm has a market capitalization of $23.36 billion, a P/E ratio of 21.98, a PEG ratio of 2.99 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. The company's fifty day moving average price is $174.60 and its 200-day moving average price is $175.37. 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 (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion for 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 earnings per share. As a group, equities research analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a $0.625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW's payout ratio is currently 30.98%.

Insider Transactions at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW 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 completion of the transaction, the insider now owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated 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 transaction, the insider now owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CDW shares. UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Citigroup upped their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays cut 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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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