SG Americas Securities LLC Makes New Investment in CDW Corporation (NASDAQ:CDW)

SG Americas Securities LLC acquired a new position in CDW Corporation (NASDAQ:CDW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,738 shares of the information technology services provider's stock, valued at approximately $1,881,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in CDW by 1.4% in the 4th quarter. Van ECK Associates Corp now owns 24,974 shares of the information technology services provider's stock worth $4,346,000 after purchasing an additional 355 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of CDW by 19.7% during the fourth quarter. V Square Quantitative Management LLC now owns 1,286 shares of the information technology services provider's stock valued at $224,000 after buying an additional 212 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of CDW by 8.4% in the fourth quarter. Congress Asset Management Co. now owns 71,065 shares of the information technology services provider's stock worth $12,368,000 after buying an additional 5,507 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of CDW in the fourth quarter worth $3,150,000. Finally, Allworth Financial LP boosted 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. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDW has been the topic of several research analyst reports. UBS Group decreased their price target 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. Citigroup lifted 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. dropped 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, Barclays reduced their price objective on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $208.71.

Insiders Place Their Bets

In related news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the company'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 completion of the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

CDW Trading Down 0.9%

Shares of NASDAQ:CDW traded down $1.55 during trading on Tuesday, reaching $170.80. The company's stock had a trading volume of 1,025,608 shares, compared to its average volume of 1,235,395. The stock has a market capitalization of $22.49 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.90 and a beta of 0.95. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $241.26. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The firm's 50 day simple moving average is $170.63 and its two-hundred day simple moving average is $175.68.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data 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 business 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 company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. On average, research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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 $0.625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.46%. CDW's dividend payout ratio is presently 30.98%.

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.