Envestnet Portfolio Solutions Inc. Sells 1,081 Shares of CDW Corporation (NASDAQ:CDW)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of CDW Corporation (NASDAQ:CDW) by 17.9% during the first quarter, Holdings Channel.com reports. The firm owned 4,966 shares of the information technology services provider’s stock after selling 1,081 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CDW were worth $796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. Orion Capital Management LLC purchased a new stake in CDW during the fourth quarter worth $30,000. Allworth Financial LP raised its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the 4th quarter worth $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 valued at $36,000 after purchasing an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. grew its stake in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Citigroup lifted 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, JPMorgan Chase & Co. reduced their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has an average rating of “Hold” and an average target price of $208.71.

Insiders Place Their Bets

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares of the company’s stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

CDW Stock Performance

Shares of CDW stock opened at $177.83 on Thursday. The company has a 50 day moving average price of $173.57 and a 200 day moving average price of $175.44. The firm has a market capitalization of $23.42 billion, a P/E ratio of 22.04, a PEG ratio of 3.03 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW) last posted 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. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business had revenue of $5.20 billion during 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 business’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW’s dividend payout ratio (DPR) is 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.