SG Americas Securities LLC Invests $1.88 Million in CDW Corporation (NASDAQ:CDW)

SG Americas Securities LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,738 shares of the information technology services provider's stock, valued at approximately $1,881,000.

Other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in CDW during the 4th quarter valued at about $30,000. Allworth Financial LP raised its position in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Finally, Optiver Holding B.V. lifted its holdings in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Down 0.5%

Shares of CDW traded down $0.80 during mid-day trading on Thursday, hitting $170.00. 1,240,381 shares of the company's stock were exchanged, compared to its average volume of 1,237,042. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26. The company has a 50-day simple moving average of $171.06 and a 200 day simple moving average of $175.61. The company has a market cap of $22.39 billion, a PE ratio of 21.07, a P/E/G ratio of 2.88 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 (NASDAQ:CDW - Get Free Report) last issued its quarterly 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. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS. On average, research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW's dividend payout ratio (DPR) is presently 30.98%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CDW. Barclays reduced their price target 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. Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target 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, UBS Group reduced 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $208.71.

Insider Buying and Selling at CDW

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

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.