Ameriprise Financial Inc. cut its position in CDW Corporation (NASDAQ:CDW) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,369 shares of the information technology services provider’s stock after selling 20,540 shares during the period. Ameriprise Financial Inc. owned 0.12% of CDW Corporation worth $10,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDW. Russell Investments Group Ltd. acquired a new position in shares of CDW Corporation during the fourth quarter valued at about $570,000. Bogle Investment Management L P DE acquired a new position in shares of CDW Corporation during the fourth quarter valued at about $323,000. Tudor Investment Corp Et Al boosted its position in shares of CDW Corporation by 104.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,074 shares of the information technology services provider’s stock valued at $629,000 after buying an additional 6,174 shares during the period. Barings LLC acquired a new position in shares of CDW Corporation during the fourth quarter valued at about $823,000. Finally, Norges Bank acquired a new position in shares of CDW Corporation during the fourth quarter valued at about $70,030,000. 90.84% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for CDW Corporation (NASDAQ:CDW)

CDW Corporation (NASDAQ:CDW) opened at 61.94 on Friday. CDW Corporation has a one year low of $38.89 and a one year high of $63.20. The stock has a market cap of $9.73 billion, a PE ratio of 25.20 and a beta of 1.08. The company’s 50 day moving average is $59.79 and its 200 day moving average is $56.84.

CDW Corporation (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. CDW Corporation had a net margin of 2.85% and a return on equity of 55.44%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. CDW Corporation’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts expect that CDW Corporation will post $3.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Thursday, May 25th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $0.64 annualized dividend and a yield of 1.03%. CDW Corporation’s dividend payout ratio (DPR) is 26.23%.

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Several brokerages recently issued reports on CDW. Royal Bank Of Canada reissued an “outperform” rating and set a $64.00 target price on shares of CDW Corporation in a report on Friday, May 19th. Robert W. Baird reissued a “buy” rating on shares of CDW Corporation in a report on Saturday, May 13th. Zacks Investment Research cut shares of CDW Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Barclays PLC reissued an “overweight” rating and set a $64.00 target price (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Finally, Northcoast Research began coverage on shares of CDW Corporation in a report on Monday, April 24th. They set a “buy” rating and a $70.00 target price for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $61.17.

In related news, insider Christina M. Corley sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $59.01, for a total value of $236,040.00. Following the completion of the sale, the insider now owns 71,843 shares in the company, valued at approximately $4,239,455.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Stevens sold 6,700 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $58.91, for a total transaction of $394,697.00. Following the completion of the sale, the insider now owns 102,366 shares of the company’s stock, valued at approximately $6,030,381.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,400 shares of company stock valued at $2,726,408. 2.20% of the stock is owned by insiders.

CDW Corporation Company Profile

CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.

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