Cambridge Investment Research Advisors Inc. Has $977,000 Stock Position in CDW Corporation (NASDAQ:CDW)

Cambridge Investment Research Advisors Inc. reduced its position in CDW Corporation (NASDAQ:CDW) by 13.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,097 shares of the information technology services provider’s stock after selling 938 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CDW were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDW. Oppenheimer & Co. Inc. increased its stake in shares of CDW by 41.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,389 shares of the information technology services provider’s stock valued at $416,000 after buying an additional 701 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of CDW by 19.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 779 shares of the information technology services provider’s stock valued at $135,000 after buying an additional 129 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of CDW by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,858 shares of the information technology services provider’s stock worth $138,685,000 after purchasing an additional 21,618 shares during the period. Proficio Capital Partners LLC increased its holdings in CDW by 5.5% in the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider’s stock valued at $687,000 after purchasing an additional 205 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in CDW by 0.7% in the fourth quarter. Arizona State Retirement System now owns 38,784 shares of the information technology services provider’s stock valued at $6,750,000 after purchasing an additional 279 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company’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 completion of the transaction, the insider owned 36,077 shares of the company’s stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christine A. Leahy sold 40,917 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider owned 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDW. JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Barclays lowered their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Hold” and a consensus price target of $208.71.

CDW Stock Down 0.4%

NASDAQ:CDW opened at $182.06 on Friday. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $241.26. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The stock has a 50-day simple moving average of $177.29 and a 200 day simple moving average of $175.55. The company has a market cap of $23.97 billion, a PE ratio of 22.56, a PEG ratio of 3.07 and a beta of 0.93.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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. CDW had a return on equity of 54.90% and a net margin of 5.10%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, May 23rd. CDW’s dividend payout ratio (DPR) is currently 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.