CDW Corporation $CDW Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its stake in shares of CDW Corporation (NASDAQ:CDW) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,105,086 shares of the information technology services provider’s stock after selling 49,248 shares during the quarter. CDW comprises approximately 1.7% of Madison Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Madison Asset Management LLC’s holdings in CDW were worth $133,738,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CDW. Hollencrest Capital Management lifted its stake in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares during the period. eCIO Inc. acquired a new position in CDW in the 4th quarter valued at about $61,000. Covestor Ltd raised its holdings in CDW by 53.4% in the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 258 shares during the period. Finally, American National Bank & Trust bought a new position in CDW in the 4th quarter valued at about $110,000. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $130.01 on Tuesday. The firm has a 50-day moving average price of $126.89 and a two-hundred day moving average price of $126.96. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $183.66. The company has a market capitalization of $16.61 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the firm earned $2.15 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts anticipate that CDW Corporation will post 10.21 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. CDW’s dividend payout ratio is currently 30.66%.

Insider Buying and Selling

In related news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the purchase, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CDW has been the subject of a number of research analyst reports. Citigroup boosted their price objective on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. UBS Group lowered their target price on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a report on Wednesday, May 27th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $142.00 to $170.00 in a report on Tuesday, June 23rd. Finally, Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $146.88.

About CDW

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.