Mutual of America Capital Management LLC Has $2.48 Million Holdings in CDW Corporation (NASDAQ:CDW)

Mutual of America Capital Management LLC cut its stake in CDW Corporation (NASDAQ:CDW) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,496 shares of the information technology services provider’s stock after selling 466 shares during the period. Mutual of America Capital Management LLC’s holdings in CDW were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Diversify Wealth Management LLC raised its stake in shares of CDW by 33.1% in the first quarter. Diversify Wealth Management LLC now owns 4,301 shares of the information technology services provider’s stock worth $688,000 after acquiring an additional 1,069 shares during the last quarter. Xponance Inc. raised its stake in shares of CDW by 2.8% in the first quarter. Xponance Inc. now owns 26,487 shares of the information technology services provider’s stock worth $4,245,000 after acquiring an additional 730 shares during the last quarter. Allworth Financial LP raised its stake in shares of CDW by 101.6% in the first quarter. Allworth Financial LP now owns 369 shares of the information technology services provider’s stock worth $59,000 after acquiring an additional 186 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in shares of CDW by 6.6% in the first quarter. Quotient Wealth Partners LLC now owns 1,340 shares of the information technology services provider’s stock worth $215,000 after acquiring an additional 83 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of CDW by 9.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,700 shares of the information technology services provider’s stock worth $753,000 after buying an additional 413 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 0.2%

Shares of NASDAQ:CDW opened at $179.59 on Friday. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $237.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market capitalization of $23.65 billion, a PE ratio of 22.25, a PEG ratio of 3.03 and a beta of 0.93. The company has a 50 day moving average price of $179.53 and a two-hundred day moving average price of $175.78.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s payout ratio is presently 30.98%.

Insider Activity at CDW

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. UBS Group dropped their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup boosted their price target on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has an average rating of “Hold” and a consensus price target of $208.50.

About CDW

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.