Merit Financial Group LLC Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Merit Financial Group LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,630 shares of the information technology services provider’s stock after selling 463 shares during the period. Merit Financial Group LLC’s holdings in CDW were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after purchasing an additional 99,947 shares during the period. Geode Capital Management LLC increased its stake in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP increased its stake in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares during the period. Invesco Ltd. increased its stake in CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock valued at $420,149,000 after purchasing an additional 575,333 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CDW. UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Citigroup boosted their price target on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, 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 note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.71.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, the insider now owns 36,077 shares of the company’s stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business’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 sale, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% 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.

CDW Stock Down 0.5%

Shares of NASDAQ CDW opened at $177.43 on Tuesday. The stock has a fifty day moving average price of $167.89 and a 200 day moving average price of $175.80. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company has a market cap of $23.36 billion, a P/E ratio of 22.26, a P/E/G ratio of 3.21 and a beta of 0.95. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter last year, the company posted $1.92 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio is presently 30.98%.

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.