Curi RMB Capital LLC Lowers Holdings in CDW Corporation $CDW

Key Points

• Curi RMB Capital LLC has significantly reduced its stake in CDW Corporation by 79.9%, owning 15,350 shares after selling 61,200 shares during the first quarter.
• CDW Corporation's quarterly earnings surpassed expectations, reporting $2.60 EPS and $5.98 billion in revenue, representing a 10.2% year-over-year increase.
• CDW has announced a quarterly dividend of $0.625 per share, with a dividend yield of 1.5% and a payout ratio of 31.06%.

Curi RMB Capital LLC lowered its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 79.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,350 shares of the information technology services provider's stock after selling 61,200 shares during the quarter. Curi RMB Capital LLC's holdings in CDW were worth $2,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vestcor Inc grew its stake in shares of CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after buying an additional 71 shares during the last quarter. TD Private Client Wealth LLC raised its position in CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after buying an additional 72 shares during the last quarter. GW&K Investment Management LLC lifted its position in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 75 shares during the period. Benin Management CORP lifted its holdings in shares of CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after buying an additional 80 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after buying an additional 81 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded down $5.04 during midday trading on Thursday, hitting $165.73. The stock had a trading volume of 2,039,802 shares, compared to its average volume of 1,127,281. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $230.86. The company has a market capitalization of $21.72 billion, a PE ratio of 20.59, a P/E/G ratio of 2.84 and a beta of 0.98. The firm's fifty day moving average is $171.21 and its two-hundred day moving average is $170.28. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. On average, research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

Wall Street Analyst Weigh In

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

CDW Company Profile

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.