Norris Perne & French LLP MI Sells 153 Shares of CDW Corporation (NASDAQ:CDW)

Norris Perne & French LLP MI cut its position in CDW Corporation (NASDAQ:CDW) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,595 shares of the information technology services provider’s stock after selling 153 shares during the quarter. Norris Perne & French LLP MI’s holdings in CDW were worth $8,749,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CDW. Vanguard Group Inc. lifted its position in shares of CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. boosted its position in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock valued at $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CDW. JPMorgan Chase & Co. cut their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Citigroup raised their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. UBS Group decreased their target price on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Barclays dropped their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.71.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $170.00 on Thursday. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $241.26. The company’s 50 day moving average price is $171.06 and its two-hundred day moving average price is $175.61. The firm has a market cap of $22.39 billion, a PE ratio of 21.07, a PEG ratio of 2.88 and a beta of 0.95. 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 issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 earnings per share. Equities research analysts predict 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 given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s payout ratio is currently 30.98%.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred 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 sale, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

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.