CDW Corporation $CDW Shares Sold 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. decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 75.4% during the 1st quarter, according to its most recent disclosure 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GW&K Investment Management LLC increased its position in shares of CDW by 78.9% in the first 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 in the last quarter. Orion Capital Management LLC purchased a new stake in CDW during the 4th quarter worth $30,000. Bayforest Capital Ltd acquired a new stake in CDW in the 1st quarter valued at $31,000. Pandora Wealth Inc. acquired a new stake in CDW in the 1st quarter valued at $32,000. Finally, Stone House Investment Management LLC purchased a new position in CDW in the first quarter valued at about $34,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased 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. UBS Group lowered their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Citigroup boosted their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Barclays decreased their target price 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. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, CDW has a consensus rating of "Hold" and an average target price of $202.00.

CDW Stock Up 2.1%

Shares of CDW traded up $3.48 during trading on Friday, reaching $169.73. The company's stock had a trading volume of 1,439,016 shares, compared to its average volume of 1,083,278. The company has a market cap of $22.24 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.82 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 company has a fifty day moving average of $172.24 and a two-hundred day moving average of $170.72. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. On average, sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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

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.