Victory Capital Management Inc. Has $23.63 Million Stock Holdings in CDW Corporation (NASDAQ:CDW)

Victory Capital Management Inc. increased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,474 shares of the information technology services provider's stock after buying an additional 14,774 shares during the period. Victory Capital Management Inc. owned about 0.11% of CDW worth $23,634,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in CDW by 30.3% during the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after purchasing an additional 72 shares during the last quarter. Benin Management CORP raised its holdings in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC raised its holdings in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after purchasing an additional 81 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in CDW by 6.6% during the 1st quarter. Quotient Wealth Partners LLC now owns 1,340 shares of the information technology services provider's stock worth $215,000 after purchasing an additional 83 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in CDW by 6.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,315 shares of the information technology services provider's stock worth $211,000 after purchasing an additional 84 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Down 1.5%

CDW stock opened at $176.87 on Tuesday. The business's 50-day moving average price is $179.53 and its 200-day moving average price is $175.83. 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 twelve month low of $137.31 and a twelve month high of $237.48. The stock has a market cap of $23.29 billion, a P/E ratio of 21.92, a PEG ratio of 3.02 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. On average, equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CDW. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, Citigroup boosted their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $208.50.

Insider Buying and Selling 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 directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred 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 sale, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

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.

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.