Commerce Bank Has $2.19 Million Stock Position in CDW Corporation (NASDAQ:CDW)

Key Points

• Commerce Bank has reduced its stake in CDW Corporation by 61.7%, holding 13,651 shares now valued at approximately $2.19 million.
• CDW reported a quarterly earnings per share (EPS) of $2.15, exceeding analyst expectations, with revenue of $5.20 billion, marking a 6.7% increase year-over-year.
• The company has announced a quarterly dividend of $0.625, representing a yield of 1.5% and a payout ratio of 30.98%.

Commerce Bank decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 61.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,651 shares of the information technology services provider's stock after selling 21,953 shares during the period. Commerce Bank's holdings in CDW were worth $2,188,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC increased its holdings in shares of CDW by 7.5% in the first quarter. Sound View Wealth Advisors Group LLC now owns 1,297 shares of the information technology services provider's stock valued at $208,000 after buying an additional 91 shares in the last quarter. Natixis Advisors LLC lifted its stake in CDW by 15.6% in the 1st quarter. Natixis Advisors LLC now owns 340,889 shares of the information technology services provider's stock worth $54,631,000 after acquiring an additional 46,049 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of CDW in the first quarter worth approximately $31,000. Vestcor Inc grew its position in CDW by 1.8% during the first quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after purchasing an additional 71 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of CDW by 6.8% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 8,380 shares of the information technology services provider's stock valued at $1,342,000 after buying an additional 537 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. 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 note on Thursday. Finally, Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, CDW presently has a consensus rating of "Hold" and a consensus price target of $202.00.

Insider Buying and Selling

In other news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider owned 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company's stock.

CDW Stock Up 0.5%

Shares of CDW traded up $0.84 during midday trading on Friday, hitting $162.72. The stock had a trading volume of 435,058 shares, compared to its average volume of 1,332,446. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.20. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38. The company has a 50 day simple moving average of $176.50 and a two-hundred day simple moving average of $175.14.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued a dividend of $0.625 per share. The ex-dividend date 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 (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.