CDW Corporation $CDW Shares Sold by Vancity Investment Management Ltd

Key Points

• Vancity Investment Management reduced its CDW stake by 19.3% in the second quarter, selling 13,695 shares and retaining 57,083 shares valued at approximately $8.0 million. Institutional investors still own 93.15% of the company.
• Analyst sentiment remains favorable: CDW has a consensus “Moderate Buy” rating and an average price target of $147, with several firms recently raising their targets or upgrading the stock.
• CDW exceeded quarterly earnings and revenue expectations, reporting $2.91 in EPS and $6.57 billion in revenue, while revenue grew 10% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 1.7% yield.

Vancity Investment Management Ltd reduced its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 19.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,083 shares of the information technology services provider's stock after selling 13,695 shares during the quarter. Vancity Investment Management Ltd's holdings in CDW were worth $8,028,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of CDW by 13,221.2% during the second quarter. California State Teachers Retirement System now owns 29,850,699 shares of the information technology services provider's stock valued at $4,198,202,000 after purchasing an additional 29,626,614 shares during the period. BlackRock Inc. purchased a new position in shares of CDW in the second quarter valued at $2,143,082,000. Pzena Investment Management LLC purchased a new position in shares of CDW in the second quarter valued at $371,135,000. Jupiter Topco LLC acquired a new stake in CDW during the 2nd quarter valued at $300,073,000. Finally, Bank of America Corp DE acquired a new stake in CDW during the 2nd quarter valued at $255,058,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Weiss Ratings upgraded CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Morgan Stanley raised their target price on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada raised CDW to an "outperform" rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. One 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

CDW News Roundup

Here are the key news stories impacting CDW this week:

• Positive Sentiment: AI-services acquisition strengthens growth strategy: CDW agreed to acquire Lovelytics, a data and AI services firm, for approximately $525 million. The deal is intended to expand CDW’s capabilities in data analytics, artificial intelligence and related consulting services, potentially increasing its exposure to customers investing in AI transformation. CDW Agrees to Acquire Lovelytics CDW To Acquire Lovelytics For Approximately $525 Million
• Positive Sentiment: Broader AI demand may support CDW: Coverage of CDW’s expanding AI expertise, along with articles discussing agentic AI adoption in K–12 IT departments and preparations by federal agencies for AI disruption, points to growing demand for AI implementation and support services across public-sector and enterprise customers. CDW Expands AI Expertise How Agentic AI Can Supplement K–12 IT Help Desks
• Positive Sentiment: Analyst sentiment remains constructive: CDW received a consensus “Moderate Buy” rating, while a Zacks review notes the stock’s strong performance since its latest earnings report. The previous quarter also featured earnings and revenue above consensus estimates, reinforcing the favorable backdrop. CDW Receives Consensus Moderate Buy Rating Why Is CDW Up Since Its Last Earnings Report?
• Negative Sentiment: Deal execution is the main risk: The roughly $525 million Lovelytics purchase increases CDW’s capital commitment and introduces integration risk. Investors will likely watch the transaction’s funding, timing and contribution to revenue and earnings before assigning greater value to the AI strategy. CDW To Acquire Lovelytics To Expand Data And AI Services

CDW Price Performance

Shares of NASDAQ:CDW opened at $152.38 on Monday. The firm has a market cap of $19.05 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. The company has a fifty day simple moving average of $139.96 and a 200 day simple moving average of $129.25. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $171.55.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 EPS. On average, equities research analysts anticipate that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. CDW's dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling

In related news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider directly owned 34,215 shares of the company's stock, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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