Brown Advisory Inc. Purchases 625 Shares of CDW Corporation (NASDAQ:CDW)

Brown Advisory Inc. increased its position in shares of CDW Corporation (NASDAQ:CDW) by 43.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,057 shares of the information technology services provider’s stock after acquiring an additional 625 shares during the period. Brown Advisory Inc.’s holdings in CDW were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of CDW by 50.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 3,272 shares of the information technology services provider’s stock valued at $524,000 after purchasing an additional 1,103 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of CDW by 4.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,793 shares of the information technology services provider’s stock valued at $1,730,000 after purchasing an additional 491 shares in the last quarter. TD Private Client Wealth LLC boosted its position 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 valued at $50,000 after buying an additional 72 shares during the period. Envestnet Asset Management Inc. boosted its position in CDW by 20.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock valued at $33,255,000 after buying an additional 35,737 shares during the period. Finally, Seascape Capital Management boosted its position in CDW by 4.4% during the 1st quarter. Seascape Capital Management now owns 19,280 shares of the information technology services provider’s stock valued at $3,090,000 after buying an additional 810 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CDW shares. JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Citigroup raised their target price on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. 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, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, CDW has an average rating of “Hold” and an average target price of $211.57.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on Tuesday, May 13th. The shares were 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 directly owned 36,077 shares of the company’s stock, 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. 0.90% of the stock is owned by company insiders.

CDW Trading Down 1.1%

Shares of CDW stock opened at $175.77 on Wednesday. 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 Corporation has a 1 year low of $137.31 and a 1 year high of $241.26. The firm has a fifty day moving average price of $179.51 and a 200-day moving average price of $175.70. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.99 and a beta of 0.93.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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 net margin of 5.10% and a return on equity of 54.90%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. As a group, equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW’s dividend payout ratio is presently 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.