CDW Corporation $CDW Shares Sold by Focus Partners Wealth

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 lessened its holdings 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 fund owned 11,913 shares of the information technology services provider's stock after selling 136,670 shares during the period. Focus Partners Wealth's holdings in CDW were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDW. Bayforest Capital Ltd purchased a new stake in CDW in the 1st quarter valued at about $31,000. SCS Capital Management LLC purchased a new stake in CDW in the 1st quarter valued at about $490,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CDW by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 954,482 shares of the information technology services provider's stock valued at $152,965,000 after buying an additional 17,895 shares during the last quarter. Woodline Partners LP purchased a new stake in CDW in the 1st quarter valued at about $42,332,000. Finally, Empowered Funds LLC increased its stake in CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider's stock valued at $2,897,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Trading Down 0.4%

Shares of CDW traded down $0.73 during midday trading on Friday, hitting $162.14. The stock had a trading volume of 682,784 shares, compared to its average volume of 1,321,646. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The firm has a market cap of $21.25 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.98. 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 stock's 50 day moving average is $169.67 and its 200 day moving average is $169.80.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the business earned $2.50 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were 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 was Monday, August 25th. CDW's payout ratio is 31.06%.

Wall Street Analyst Weigh In

Several research firms have commented on CDW. Barclays decreased their price objective on shares of 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 shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Profile

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.