Cardinal Capital Management Inc. Lowers Holdings in CDW Corporation $CDW

Key Points

• Cardinal Capital Management Inc. has decreased its holdings in CDW Corporation by 4.5%, now owning 71,940 shares worth approximately $12.8 million following a sale of 3,415 shares in the second quarter.
• Numerous institutional investors have modified their stakes in CDW, with notable increases from firms like TD Private Client Wealth LLC (30.3%) and GW&K Investment Management LLC (78.9%) in the first quarter.
• CDW's stock is rated as "Hold" by analysts, with a current average price target of $202.00, despite varied price objectives set by institutions such as Citigroup and JPMorgan raising theirs to $200.00 and $205.00, respectively.

Cardinal Capital Management Inc. reduced its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,940 shares of the information technology services provider's stock after selling 3,415 shares during the quarter. Cardinal Capital Management Inc. owned 0.05% of CDW worth $12,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CDW. GW&K Investment Management LLC increased its stake in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of CDW during the 4th quarter valued at about $30,000. Bayforest Capital Ltd bought a new position in shares of CDW during the 1st quarter valued at about $31,000. Pandora Wealth Inc. bought a new position in shares of CDW during the 1st quarter valued at about $32,000. Finally, Stone House Investment Management LLC bought a new position in shares of CDW during the 1st quarter valued at about $34,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CDW. Barclays reduced their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, UBS Group reduced their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, CDW presently has an average rating of "Hold" and an average price target of $202.00.

CDW Stock Down 0.2%

Shares of CDW traded down $0.38 on Tuesday, reaching $163.78. The stock had a trading volume of 706,755 shares, compared to its average volume of 1,331,756. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The company has a 50-day simple moving average of $169.08 and a 200-day simple moving average of $169.70. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $229.02.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. Sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's dividend payout ratio (DPR) is presently 31.06%.

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.