Sumitomo Mitsui Trust Group Inc. Sells 15,105 Shares of CDW Corporation $CDW

Key Points

• Sumitomo Mitsui Trust Group reduced its CDW stake by 4.7%, selling 15,105 shares and retaining 309,389 shares valued at about $39.7 million.
• CDW reported quarterly EPS of $3.26, beating the $2.98 consensus, while revenue reached $6.75 billion—up 17.7% year over year and above estimates.
• CDW raised its quarterly dividend from $0.63 to $0.68 per share, equivalent to an annualized $2.72 and a 1.6% yield.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,389 shares of the information technology services provider's stock after selling 15,105 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of CDW worth $39,651,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CDW during the 3rd quarter valued at $4,143,000. ProShare Advisors LLC grew its holdings in shares of CDW by 7.6% during the 3rd quarter. ProShare Advisors LLC now owns 77,719 shares of the information technology services provider's stock worth $9,960,000 after purchasing an additional 5,467 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of CDW by 11.9% in the third quarter. Cidel Asset Management Inc. now owns 1,771 shares of the information technology services provider's stock worth $227,000 after purchasing an additional 188 shares during the period. Choreo LLC raised its stake in CDW by 24.5% in the third quarter. Choreo LLC now owns 2,467 shares of the information technology services provider's stock valued at $316,000 after purchasing an additional 486 shares in the last quarter. Finally, VestGen Advisors LLC grew its stake in CDW by 5.7% during the third quarter. VestGen Advisors LLC now owns 2,302 shares of the information technology services provider's stock worth $295,000 after buying an additional 124 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 12.7%

CDW opened at $168.75 on Thursday. The company's 50 day moving average is $148.23 and its 200-day moving average is $133.47. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $172.47. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company has a market cap of $21.10 billion, a P/E ratio of 20.28, a PEG ratio of 1.96 and a beta of 0.92.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.28. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.19 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 EPS. Equities research analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be given a $0.68 dividend. This is an increase from CDW's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, November 25th. CDW's dividend payout ratio (DPR) is 30.29%.

Insiders Place Their Bets

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of several analyst reports. Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. Citigroup upped their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley raised their target price on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Barclays decreased their price target on CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.12.

CDW News Roundup

Here are the key news stories impacting CDW this week:

• Positive Sentiment: CDW reported adjusted earnings of $3.26 per share, above analyst expectations of about $2.98, and revenue of $6.755 billion versus estimates of roughly $6.19 billion. Revenue grew 17.7% year over year. Article: CDW Stock Jumps as AI Infrastructure Demand Drives Q3 Beat
• Positive Sentiment: Reports attributed the strong quarter to enterprise AI adoption and broad-based demand. The earnings call also highlighted record growth and the company’s outlook, supporting investor confidence in demand. Article: CDW Earnings Call Highlights Record Growth and Outlook
• Positive Sentiment: The board declared a quarterly dividend of $0.68 per share, up 7.9% from $0.63. The higher payout adds to shareholder returns and signals confidence in cash generation. Article: CDW Raises Quarterly Dividend by 7.9%
• Negative Sentiment: Despite the sales and earnings beat, margin compression and rising expenses were cited as risks that investors will monitor for their impact on future profitability. Article: CDW Q3 Earnings Beat Despite Margin Compression

CDW Company Profile

CDW Corporation NASDAQ: CDW is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.

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