Sumitomo Mitsui Trust Group Inc. Sells 25,241 Shares of CDW Corporation $CDW

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in CDW by 6.9%, selling 25,241 shares and leaving it with 340,104 shares (0.26% ownership) valued at roughly $46.32 million.
• CDW beat quarterly expectations with $2.57 EPS (vs. $2.44) and 6.3% revenue growth to $5.51B, pays a $0.63 quarterly dividend (annualized $2.52, 1.9% yield), and holds a consensus "Moderate Buy" analyst target of $160.43.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 340,104 shares of the information technology services provider's stock after selling 25,241 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of CDW worth $46,322,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in CDW in the 3rd quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in CDW in the 3rd quarter valued at approximately $57,000. eCIO Inc. acquired a new stake in CDW in the 4th quarter valued at approximately $61,000. Covestor Ltd grew its holdings in CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider's stock valued at $77,000 after buying an additional 226 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in CDW in the 4th quarter valued at approximately $110,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $129.56 on Thursday. CDW Corporation has a 1-year low of $112.98 and a 1-year high of $192.30. The firm has a market capitalization of $16.58 billion, a PE ratio of 16.01, a PEG ratio of 1.80 and a beta of 1.02. The business's 50 day moving average is $124.58 and its 200-day moving average is $136.55. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.13. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.33 billion. CDW had a return on equity of 50.66% and a net margin of 4.76%.CDW's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.48 EPS. Sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 annualized dividend and a yield of 1.9%. CDW's payout ratio is currently 31.15%.

Analyst Ratings Changes

A number of analysts have issued reports on CDW shares. UBS Group lowered their target price on CDW from $190.00 to $162.00 and set a "buy" rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their target price on CDW from $170.00 to $160.00 and set a "neutral" rating on the stock in a report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CDW in a report on Tuesday, January 27th. Evercore reaffirmed an "outperform" rating and issued a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Finally, Morgan Stanley lifted their price objective on CDW from $141.00 to $142.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.43.

About CDW

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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