Stevens Capital Management LP Has $499,000 Stock Position in CDW Corporation (NASDAQ:CDW)

Key Points

• Stevens Capital Management LP reduced its stake in CDW Corporation by 37.8% in the first quarter, holding shares worth $499,000 after selling 1,891 shares.
• CDW recently declared a quarterly dividend of $0.625 per share, representing an annual yield of 1.38% with a payout ratio of 30.98%.
• Equities analysts have mixed ratings on CDW, with an average target price of $208.50 and several recommendations for both holding and buying the stock.

Stevens Capital Management LP lowered its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 37.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,112 shares of the information technology services provider's stock after selling 1,891 shares during the period. Stevens Capital Management LP's holdings in CDW were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. Assetmark Inc. lifted its holdings in shares of CDW by 11.8% during the 1st quarter. Assetmark Inc. now owns 993 shares of the information technology services provider's stock valued at $159,000 after purchasing an additional 105 shares in the last quarter. Cetera Investment Advisers raised its position in CDW by 67.6% in the 1st quarter. Cetera Investment Advisers now owns 8,015 shares of the information technology services provider's stock valued at $1,284,000 after buying an additional 3,233 shares during the last quarter. Avantax Advisory Services Inc. raised its position in CDW by 51.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,598 shares of the information technology services provider's stock valued at $1,538,000 after buying an additional 3,268 shares during the last quarter. One Wealth Advisors LLC raised its position in CDW by 44.7% in the 1st quarter. One Wealth Advisors LLC now owns 6,325 shares of the information technology services provider's stock valued at $1,014,000 after buying an additional 1,953 shares during the last quarter. Finally, Advisor OS LLC raised its position in CDW by 25.4% in the 1st quarter. Advisor OS LLC now owns 4,576 shares of the information technology services provider's stock valued at $733,000 after buying an additional 927 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDW. Citigroup lifted their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays dropped 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. UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and an average price target of $208.50.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction on 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 sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the business's 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. This trade represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

CDW Stock Performance

Shares of NASDAQ CDW traded up $0.38 during midday trading on Tuesday, hitting $182.16. 383,937 shares of the company's stock were exchanged, compared to its average volume of 1,320,280. 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 12 month low of $137.31 and a 12 month high of $237.48. The company's 50 day moving average price is $178.48 and its 200 day moving average price is $175.84. The firm has a market capitalization of $23.99 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 3.04 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, topping the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the company posted $1.92 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts predict 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. Investors 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 annualized dividend and a yield of 1.37%. CDW's dividend payout ratio (DPR) is presently 30.98%.

About CDW

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.