Danske Bank A S Cuts Stock Holdings in CDW Corporation $CDW

Key Points

• Danske Bank trimmed its stake in CDW by 8.9% in Q4, selling 7,444 shares and ending the quarter with 76,351 shares (about $10.4M); overall, roughly 93.15% of CDW is held by institutional investors.
• Sell‑side analysts give CDW a consensus rating of "Moderate Buy" with an average price target of $160.43, reflecting a mix of Buy and Hold opinions from major firms.
• CDW recently beat quarterly estimates (EPS $2.57 vs. $2.44; revenue $5.51B vs. $5.33B) and pays a $0.63 quarterly dividend, equal to a ~1.9% yield.

Danske Bank A S trimmed its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,351 shares of the information technology services provider's stock after selling 7,444 shares during the period. Danske Bank A S owned 0.06% of CDW worth $10,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CDW. Root Financial Partners LLC purchased a new position in shares of CDW in the 3rd quarter worth $26,000. Empowered Funds LLC boosted its holdings in shares of CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider's stock worth $2,897,000 after purchasing an additional 216 shares during the period. Covestor Ltd boosted its holdings in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider's stock worth $77,000 after purchasing an additional 226 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of CDW by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider's stock worth $6,546,000 after purchasing an additional 255 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of CDW by 30.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider's stock worth $162,000 after purchasing an additional 277 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup lifted their target price on CDW from $148.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their target price on CDW from $170.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, February 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of CDW in a report on Friday, April 24th. Evercore reaffirmed an "outperform" rating and set a $180.00 price target on shares of CDW in a research note on Tuesday, January 20th. Finally, Morgan Stanley lifted their price target on shares of CDW from $141.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.43.

CDW Price Performance

CDW opened at $135.30 on Tuesday. The business has a fifty day moving average of $125.36 and a 200 day moving average of $134.94. CDW Corporation has a 52-week low of $112.98 and a 52-week high of $192.30. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.77. The stock has a market cap of $17.31 billion, a P/E ratio of 16.72, a PEG ratio of 1.87 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.13. The company had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.33 billion. CDW had a return on equity of 50.66% and a net margin of 4.76%.CDW's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.48 EPS. As a group, sell-side analysts anticipate that CDW Corporation will post 10.01 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th. CDW's dividend payout ratio is currently 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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