Ceredex Value Advisors LLC Sells 4,451 Shares of CDW Corporation $CDW

Key Points

• Ceredex Value Advisors LLC has reduced its stake in CDW Corporation by 1.8%, now owning approximately 239,162 shares valued at $38.33 million.
• CDW reported a 10.2% increase in quarterly revenue year-over-year, totaling $5.98 billion, and earnings per share of $2.60, surpassing estimates.
• The company recently announced a quarterly dividend of $0.625 per share, resulting in an annualized dividend yield of 1.5%.

Ceredex Value Advisors LLC lowered its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,162 shares of the information technology services provider's stock after selling 4,451 shares during the period. Ceredex Value Advisors LLC owned approximately 0.18% of CDW worth $38,328,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of CDW by 20.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock valued at $33,255,000 after buying an additional 35,737 shares in the last quarter. Unison Asset Management LLC raised its holdings in shares of CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after buying an additional 3,657 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CDW by 1.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after buying an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of CDW by 8.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after buying an additional 1,604 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in CDW in the 1st quarter worth approximately $212,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 0.7%

Shares of CDW stock traded down $1.11 during mid-day trading on Friday, hitting $164.76. The company's stock had a trading volume of 1,109,840 shares, compared to its average volume of 1,353,628. The stock has a market cap of $21.59 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.74 and a beta of 0.95. 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 business has a 50-day moving average price of $173.43 and a 200 day moving average price of $171.60. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $230.86.

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW's dividend payout ratio is presently 31.06%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays dropped their price target 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 lifted their price target 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. lifted their price target 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 dropped their price target 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 equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, CDW currently has an average rating of "Hold" and a consensus price target of $202.00.

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.