Wolf Group Capital Advisors Makes New Investment in CDW Corporation (NASDAQ:CDW)

Wolf Group Capital Advisors bought a new position in shares of CDW Corporation (NASDAQ:CDW) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,402 shares of the information technology services provider’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Orion Capital Management LLC bought a new position in CDW during the fourth quarter worth about $30,000. Allworth Financial LP boosted 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 position in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust boosted 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. boosted 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 report on Thursday, April 17th. UBS Group lowered their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Citigroup increased their price target on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $208.71.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 144,931 shares of the company’s stock, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This 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 currently owned by insiders.

CDW Trading Down 0.5%

Shares of CDW stock 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 has a market cap of $22.39 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.88 and a beta of 0.95. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The company’s 50-day moving average price is $171.06 and its 200-day moving average price is $175.61.

CDW (NASDAQ:CDW) last announced 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 earnings per share. On average, equities analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, May 23rd. CDW’s dividend payout ratio is currently 30.98%.

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.