Norris Perne & French LLP MI Has $8.75 Million Stock Holdings in CDW Corporation (NASDAQ:CDW)

Norris Perne & French LLP MI lowered its position in CDW Corporation (NASDAQ:CDW) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in CDW during the 4th quarter worth about $30,000. Allworth Financial LP raised its position in shares of 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 acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW in the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. increased its position in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.5%

Shares of NASDAQ CDW opened at $170.00 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. The firm has a market cap of $22.39 billion, a PE ratio of 21.07, a P/E/G ratio of 2.88 and a beta of 0.95. The company’s fifty day simple moving average is $171.06 and its 200 day simple moving average is $175.61. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $241.26.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 earnings per share. As a group, sell-side analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a yield of 1.47%. CDW’s payout ratio is currently 30.98%.

Insider Buying and Selling at CDW

In other CDW news, 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 transaction of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm’s 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 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. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CDW shares. Barclays dropped 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 report on Thursday, May 8th. Citigroup upped their price target on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, UBS Group dropped 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $208.71.

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.