CDW Corporation $CDW Shares Sold by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management cut its stake in CDW by 31.4% in Q4, selling 22,935 shares and leaving it with 50,050 shares valued at $6.817 million.
• Several brokers recently trimmed price targets (UBS to $162, JPMorgan to $160), though the stock's consensus rating remains Moderate Buy with a $160.43 consensus price target.
• CDW topped quarterly estimates with EPS of $2.57 versus $2.44 and revenue of $5.51 billion versus $5.33 billion, and it pays a quarterly dividend of $0.63 (roughly a 2.0% yield).

Cardinal Capital Management Inc. reduced its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,050 shares of the information technology services provider's stock after selling 22,935 shares during the period. Cardinal Capital Management Inc.'s holdings in CDW were worth $6,817,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Fenimore Asset Management Inc raised its stake in shares of CDW by 0.4% in the third quarter. Fenimore Asset Management Inc now owns 1,141,082 shares of the information technology services provider's stock valued at $181,752,000 after acquiring an additional 4,659 shares in the last quarter. Marshall Wace LLP raised its stake in shares of CDW by 255.7% in the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider's stock valued at $95,448,000 after acquiring an additional 430,796 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CDW by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,345 shares of the information technology services provider's stock valued at $58,192,000 after acquiring an additional 1,793 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of CDW by 0.6% in the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider's stock valued at $40,309,000 after acquiring an additional 1,242 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of CDW by 531.9% in the fourth quarter. SG Americas Securities LLC now owns 189,285 shares of the information technology services provider's stock valued at $25,781,000 after acquiring an additional 159,332 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CDW. UBS Group reduced their price objective on CDW from $190.00 to $162.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on CDW from $170.00 to $160.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reissued a "hold (c-)" rating on shares of CDW in a report on Tuesday, January 27th. Evercore reissued an "outperform" rating and issued a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Finally, Barclays dropped their target price on CDW from $148.00 to $144.00 and set an "equal weight" rating on the stock in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.43.

CDW Stock Performance

Shares of CDW stock opened at $126.75 on Friday. The stock's 50-day moving average is $124.58 and its two-hundred day moving average is $137.64. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.75 and a beta of 1.02. CDW Corporation has a 1 year low of $112.98 and a 1 year high of $192.30. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.13. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.33 billion. CDW had a return on equity of 50.66% and a net margin of 4.76%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.48 earnings per share. Analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. CDW's dividend payout ratio (DPR) is presently 31.15%.

CDW Company 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.

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