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Universal Beteiligungs und Servicegesellschaft mbH cut its stake in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 33.6% in the first quarter, HoldingsChannel reports. The fund owned 91,497 shares of the information technology services provider’s stock after selling 46,399 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in CDW were worth $14,663,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its stake in shares of 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 acquiring an additional 72 shares during the period. GW&K Investment Management LLC lifted its holdings in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Benin Management CORP lifted its holdings in CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider’s stock worth $521,000 after purchasing an additional 80 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider’s stock worth $336,000 after purchasing an additional 81 shares in the last quarter. Finally, Quotient Wealth Partners LLC lifted its holdings in CDW by 6.6% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,340 shares of the information technology services provider’s stock worth $215,000 after purchasing an additional 83 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CDW shares. Citigroup boosted their price target on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. UBS Group decreased their price objective on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $208.50.
Read Our Latest Research Report on CDW
CDW Stock Performance
NASDAQ:CDW opened at $180.83 on Friday. The stock’s fifty day moving average is $178.76 and its 200 day moving average is $175.93. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $237.48. The firm has a market capitalization of $23.81 billion, a PE ratio of 22.41, a PEG ratio of 3.05 and a beta of 0.93. 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 (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. CDW’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.
CDW Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.38%. CDW’s payout ratio is presently 30.98%.
Insider Buying and Selling at CDW
In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company’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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the company’s stock in a transaction 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 directly owned 144,931 shares in the company, valued at $26,293,382.02. This trade 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.
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.
Further Reading
Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW – Free Report).
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