Bank of New York Mellon Corp Sells 85,730 Shares of CDW Corporation $CDW

Bank of New York Mellon Corp lowered its position in CDW Corporation (NASDAQ:CDW) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 779,156 shares of the information technology services provider’s stock after selling 85,730 shares during the quarter. Bank of New York Mellon Corp’s holdings in CDW were worth $106,121,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CDW. eCIO Inc. purchased a new position in shares of CDW during the 4th quarter worth about $61,000. Covestor Ltd boosted its position in shares of CDW by 53.4% during the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 258 shares during the period. American National Bank & Trust purchased a new position in shares of CDW during the fourth quarter valued at approximately $110,000. Steph & Co. grew its stake in shares of CDW by 53.3% during the fourth quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock valued at $157,000 after buying an additional 400 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of CDW by 30.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock worth $162,000 after buying an additional 277 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW opened at $133.04 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average is $122.51 and its two-hundred day moving average is $128.93. The company has a market capitalization of $17.00 billion, a P/E ratio of 16.18, a PEG ratio of 1.78 and a beta of 1.00. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $183.91.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the business earned $2.15 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that CDW Corporation will post 10.09 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is 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 30.66%.

Insider Transactions at CDW

In other CDW news, Director David W. Nelms bought 18,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CDW. UBS Group decreased their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citigroup cut their price objective on CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a research note on Wednesday, May 27th. Finally, Barclays decreased their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.63.

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.