CDW Corporation $CDW Stake Cut by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has significantly reduced its stake in CDW Corporation by 75.4%, now holding 3,912 shares valued at $627,000.
• Several other large institutional investors have adjusted their positions in CDW, with Envestnet Asset Management increasing its holdings by 20.8% during the same period.
• CDW reported earnings of $2.60 per share, exceeding estimates, along with a revenue of $5.98 billion, a 10.2% increase year-over-year.

Nomura Holdings Inc. trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 75.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,912 shares of the information technology services provider's stock after selling 11,979 shares during the period. Nomura Holdings Inc.'s holdings in CDW were worth $627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vestcor Inc grew its position in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after buying an additional 71 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of 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 in the last quarter. GW&K Investment Management LLC lifted its stake 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 worth $27,000 after acquiring an additional 75 shares during the period. Benin Management CORP boosted its holdings in shares of CDW by 2.5% in the first quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after acquiring an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of CDW by 4.0% during the first quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after acquiring an additional 81 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CDW shares. UBS Group dropped their target price on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Citigroup lifted their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays dropped 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. raised their target price on CDW from $185.00 to $205.00 and gave the company 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Trading Up 1.1%

CDW traded up $1.82 during trading on Wednesday, reaching $170.77. The company had a trading volume of 1,795,899 shares, compared to its average volume of 1,096,483. The firm's 50-day simple moving average is $171.54 and its 200 day simple moving average is $170.42. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.81 and a beta of 0.98. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 4.92% and a return on equity of 53.63%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. Equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

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.