Stratos Wealth Partners LTD. lowered its position in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 50.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,699 shares of the information technology services provider’s stock after selling 1,731 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in CDW were worth $272,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CDW. Proficio Capital Partners LLC grew its position 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 worth $687,000 after acquiring an additional 205 shares during the period. Farther Finance Advisors LLC grew its position in CDW by 16.0% in the fourth quarter. Farther Finance Advisors LLC now owns 681 shares of the information technology services provider’s stock worth $119,000 after acquiring an additional 94 shares during the period. Cibc World Markets Corp grew its position in CDW by 13.5% in the fourth quarter. Cibc World Markets Corp now owns 23,972 shares of the information technology services provider’s stock worth $4,172,000 after acquiring an additional 2,842 shares during the period. Signaturefd LLC grew its position in CDW by 2.7% in the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after acquiring an additional 72 shares during the period. Finally, PDS Planning Inc grew its position in CDW by 18.9% in the fourth quarter. PDS Planning Inc now owns 1,410 shares of the information technology services provider’s stock worth $245,000 after acquiring an additional 224 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.
CDW Stock Down 1.1%
CDW opened at $175.77 on Wednesday. The business’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $175.70. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. The stock has a market capitalization of $23.15 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.99 and a beta of 0.93.
CDW Announces Dividend
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s dividend payout ratio is presently 30.98%.
Insider Buying and Selling
In other news, insider Christine A. Leahy sold 40,917 shares of the business’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 transaction of $7,423,162.14. Following the sale, the insider owned 144,931 shares of the company’s stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’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 value of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on 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 price target on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Barclays lowered their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Finally, UBS Group reduced their price objective on CDW from $236.00 to $210.00 and set a “buy” 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 three have issued a buy rating to the company. According to data from MarketBeat, CDW presently has a consensus rating of “Hold” and a consensus price target of $211.57.
Read Our Latest Research Report on CDW
About CDW
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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