Wealth Alliance LLC Invests $376,000 in CDW Corporation (NASDAQ:CDW)

Wealth Alliance LLC acquired a new position in CDW Corporation (NASDAQ:CDW - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,346 shares of the information technology services provider's stock, valued at approximately $376,000.

A number of other large investors have also modified their holdings of CDW. Orion Capital Management LLC acquired a new stake in shares of CDW in the 4th quarter worth about $30,000. Optiver Holding B.V. increased its stake in CDW by 107.2% during the 4th 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. Golden State Wealth Management LLC increased its stake in CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after buying an additional 185 shares during the period. Global X Japan Co. Ltd. acquired a new position in CDW during the 1st quarter valued at about $43,000. Finally, Quarry LP acquired a new position in CDW during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW opened at $176.87 on Tuesday. CDW Corporation has a one year low of $137.31 and a one year high of $237.48. The company has a 50-day moving average of $179.53 and a two-hundred day moving average of $175.83. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.02 and a beta of 0.93. 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 announced 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 net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same period last year, the company posted $1.92 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on CDW shares. Citigroup raised their target price 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. UBS Group lowered their target price 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. JPMorgan Chase & Co. raised their target price 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. Finally, Barclays lowered their target price 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, CDW has a consensus rating of "Hold" and an average target price of $208.50.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% 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.

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