Focus Partners Wealth Trims Stock Holdings in CDW Corporation $CDW

Key Points

• Focus Partners Wealth has drastically reduced its stake in CDW Corporation by 92%, selling 136,670 shares, leaving it with only 11,913 shares valued at approximately $1.91 million.
• Several institutional investors have increased their positions in CDW, with Price T Rowe Associates Inc. making the largest increase at 444.6% during the same quarter.
• CDW recently announced a quarterly dividend of $0.625 per share, which reflects an annualized dividend yield of 1.5%.

Focus Partners Wealth lowered its position in CDW Corporation (NASDAQ:CDW - Free Report) by 92.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,913 shares of the information technology services provider's stock after selling 136,670 shares during the quarter. Focus Partners Wealth's holdings in CDW were worth $1,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock valued at $261,564,000 after acquiring an additional 1,332,454 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of CDW in the fourth quarter worth $105,705,000. Manning & Napier Advisors LLC bought a new stake in CDW during the first quarter worth $74,908,000. Contour Asset Management LLC acquired a new stake in CDW during the first quarter worth about $64,505,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CDW by 15.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock worth $447,596,000 after buying an additional 378,841 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded down $1.65 during trading on Friday, hitting $161.22. The company had a trading volume of 2,889,617 shares, compared to its average volume of 1,267,024. The firm has a market cap of $21.13 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The firm has a 50-day moving average price of $169.35 and a 200-day moving average price of $169.73. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion for 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%.CDW's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. On average, analysts expect that CDW Corporation will post 9.41 earnings per share 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 given a $0.625 dividend. The ex-dividend date was Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.6%. CDW's payout ratio is 31.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group cut their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays decreased 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, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective 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 given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $202.00.

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.