First Citizens Bank & Trust Co. Sells 930 Shares of CDW Co. (NASDAQ:CDW)

First Citizens Bank & Trust Co. decreased its position in shares of CDW Co. (NASDAQ:CDW) by 18.4% in the 1st quarter, HoldingsChannel reports. The firm owned 4,137 shares of the information technology services provider’s stock after selling 930 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CDW were worth $663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter worth about $30,000. Allworth Financial LP lifted its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the period. Finally, Optiver Holding B.V. lifted its position in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 119 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm’s 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 completion of the transaction, the insider now owns 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of the firm’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 transaction, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

CDW Stock Up 0.7%

Shares of NASDAQ CDW opened at $178.73 on Wednesday. The company has a 50 day simple moving average of $168.44 and a 200 day simple moving average of $175.82. The firm has a market cap of $23.54 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. On average, research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a $0.625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s dividend payout ratio (DPR) is presently 30.98%.

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.