SVB Wealth LLC Decreases Stake in CDW Corporation $CDW

SVB Wealth LLC lowered its stake in CDW Corporation (NASDAQ:CDW) by 42.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,030 shares of the information technology services provider’s stock after selling 4,432 shares during the quarter. SVB Wealth LLC’s holdings in CDW were worth $730,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of CDW by 20.5% in the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock worth $38,812,000 after buying an additional 48,547 shares during the period. Local Pensions Partnership Investment Ltd boosted its position in CDW by 7.8% during the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock valued at $33,940,000 after buying an additional 18,000 shares during the period. Foyston Gordon & Payne Inc grew its holdings in CDW by 30.9% in the 3rd quarter. Foyston Gordon & Payne Inc now owns 52,732 shares of the information technology services provider’s stock worth $8,399,000 after acquiring an additional 12,456 shares during the last quarter. Fenimore Asset Management Inc grew its holdings in CDW by 0.8% in the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after acquiring an additional 9,485 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of CDW in the third quarter valued at about $4,110,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CDW. Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. UBS Group cut their target price on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Morgan Stanley upgraded CDW from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $142.00 to $170.00 in a report on Tuesday. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $144.12.

Insider Buying and Selling at CDW

In other news, Director David W. Nelms bought 18,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

CDW Stock Up 5.3%

Shares of NASDAQ CDW opened at $130.06 on Wednesday. The firm has a fifty day simple moving average of $124.25 and a two-hundred day simple moving average of $127.89. The firm has a market capitalization of $16.62 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $183.91.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the company earned $2.15 earnings per share. CDW’s quarterly revenue was up 9.2% on a year-over-year basis. Equities analysts expect that CDW Corporation will post 10.09 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW’s dividend payout ratio is 30.66%.

CDW Profile

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.