Kestra Advisory Services LLC Has $1.13 Million Stock Holdings in CDW Corporation $CDW

Kestra Advisory Services LLC cut its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,059 shares of the information technology services provider's stock after selling 2,082 shares during the quarter. Kestra Advisory Services LLC's holdings in CDW were worth $1,131,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CDW. D. E. Shaw & Co. Inc. raised its holdings in shares of CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after buying an additional 1,823,788 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CDW by 444.6% in the first 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 buying an additional 1,332,454 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of CDW in the fourth quarter valued at about $105,705,000. Manning & Napier Advisors LLC bought a new position in shares of CDW in the first quarter valued at about $74,908,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after buying an additional 378,841 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 1.8%

Shares of CDW stock traded up $2.88 during trading on Thursday, hitting $166.25. 1,198,611 shares of the company were exchanged, compared to its average volume of 1,316,083. The firm has a market capitalization of $21.79 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86. The firm's fifty day moving average price is $172.61 and its 200 day moving average price is $171.20. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

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, topping the consensus estimate of $2.49 by $0.11. The company 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 for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. As a group, sell-side analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be given a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's payout ratio is currently 31.06%.

Analyst Ratings Changes

CDW has been the subject of a number of research analyst reports. UBS Group cut their price target on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. 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 report on Thursday, August 7th. 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 report on Thursday, July 17th. Finally, Citigroup lifted their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Company 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.