National Bank of Canada FI Reduces Position in CDW Corporation (NASDAQ:CDW)

Key Points

• National Bank of Canada FI reduced its position in CDW Corporation by 38.6%, owning 118,258 shares valued at approximately $18.95 million after selling 74,468 shares in the first quarter.
• Analysts have a consensus rating of "Hold" on CDW with a consensus price target of $202.00; price targets range from $176.00 to $210.00 among various firms.
• CDW announced a quarterly dividend of $0.625 per share, translating to an annual yield of 1.5%, with the ex-dividend date set for August 25th.

National Bank of Canada FI lessened its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,258 shares of the information technology services provider's stock after selling 74,468 shares during the period. National Bank of Canada FI owned approximately 0.09% of CDW worth $18,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CDW. GW&K Investment Management LLC raised its holdings in shares of CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares during the period. Orion Capital Management LLC purchased a new stake in CDW during the 4th quarter worth about $30,000. Bayforest Capital Ltd acquired a new position in shares of CDW during the 1st quarter worth about $31,000. Optiver Holding B.V. boosted its position in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of CDW by 237.2% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. JPMorgan Chase & Co. increased 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. UBS Group cut their target price on 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 CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Barclays reduced their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, CDW currently has an average rating of "Hold" and an average price target of $202.00.

CDW Price Performance

Shares of CDW traded up $0.15 during mid-day trading on Friday, hitting $166.24. The company's stock had a trading volume of 298,906 shares, compared to its average volume of 1,326,010. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38. The firm has a market capitalization of $21.79 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.81 and a beta of 0.95. The firm has a 50-day simple moving average of $175.19 and a 200 day simple moving average of $174.10. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released 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. CDW had a return on equity of 53.63% and a net margin of 4.92%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $2.50 EPS. CDW's quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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