Assenagon Asset Management S.A. Reduces Holdings in CDW Corporation (NASDAQ:CDW)

Assenagon Asset Management S.A. lowered its holdings in CDW Corporation (NASDAQ:CDW) by 98.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,245 shares of the information technology services provider’s stock after selling 253,026 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CDW were worth $520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in CDW by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 42,896 shares of the information technology services provider’s stock valued at $7,466,000 after acquiring an additional 1,222 shares during the period. Global Retirement Partners LLC grew its stake in CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock worth $92,000 after acquiring an additional 75 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in CDW by 2.8% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after acquiring an additional 1,861 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new position in CDW in the fourth quarter worth approximately $174,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of the business’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 value 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 document filed with the SEC, which is available at 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 stock was 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 in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent research reports. 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. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Citigroup increased their price target on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, UBS Group reduced 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CDW currently has an average rating of “Hold” and a consensus price target of $208.71.

CDW Trading Down 0.5%

Shares of CDW stock opened at $170.00 on Friday. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.86 and a beta of 0.95. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The firm’s 50 day moving average price is $171.53 and its two-hundred day moving average price is $175.53. 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 (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (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 return on equity of 54.90% and a net margin of 5.10%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.92 earnings per share. On average, analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

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

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.