CDW Corporation $CDW Stake Cut by Ethic Inc.

Key Points

• Ethic Inc. has reduced its stake in CDW Corporation by 58.7%, owning 3,291 shares worth approximately $533,000 after selling 4,687 shares in the first quarter.
• In contrast, Aberdeen Group plc increased its stake by 128.9%, owning 109,114 shares worth $17.47 million after purchasing additional shares during the same period.
• CDW recently announced a quarterly dividend of $0.625 per share, equating to an annualized yield of 1.5%, with the payout ratio sitting at 31.06%.

Ethic Inc. reduced its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,291 shares of the information technology services provider's stock after selling 4,687 shares during the period. Ethic Inc.'s holdings in CDW were worth $533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestcor Inc grew its stake in CDW by 1.8% during 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 grew its stake in CDW by 30.3% during 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 grew its stake in CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after buying an additional 75 shares during the last quarter. Benin Management CORP grew its stake in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after buying an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after buying an additional 81 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDW. Citigroup upped their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays lowered their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. UBS Group decreased 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. Finally, JPMorgan Chase & Co. increased their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, CDW presently has a consensus rating of "Hold" and an average price target of $202.00.

CDW Price Performance

Shares of CDW stock traded up $1.56 during trading on Wednesday, hitting $165.23. The stock had a trading volume of 1,343,450 shares, compared to its average volume of 1,338,347. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The firm has a market cap of $21.66 billion, a P/E ratio of 20.53, a PEG ratio of 2.72 and a beta of 0.95. The business has a fifty day moving average of $173.63 and a two-hundred day moving average of $172.08. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. On average, sell-side analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio is currently 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.