CDW Corporation $CDW Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC has reduced its holdings in CDW Corporation by 38.6%, owning 25,704 shares worth approximately $4.12 million after selling 16,158 shares during Q1.
• Analysts have mixed opinions on CDW, with Barclays lowering their price target from $205 to $176, while Citigroup raised theirs from $180 to $200, reflecting differing views on the stock's potential.
• CDW recently announced a quarterly dividend of $0.625 to be paid on September 10th, translating to an annual yield of 1.5%.

SVB Wealth LLC reduced its position in shares of 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 institutional investor owned 25,704 shares of the information technology services provider's stock after selling 16,158 shares during the quarter. SVB Wealth LLC's holdings in CDW were worth $4,119,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its stake in CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after buying an additional 1,823,788 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after acquiring an additional 1,372,874 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock valued at $261,564,000 after acquiring an additional 1,332,454 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in CDW in the 4th quarter valued at about $105,705,000. Finally, Manning & Napier Advisors LLC acquired a new stake in CDW in the 1st quarter valued at about $74,908,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Barclays decreased their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. UBS Group decreased 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. Finally, Citigroup lifted their price objective 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. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Stock Performance

NASDAQ CDW traded down $0.29 during trading on Thursday, reaching $164.95. The company's stock had a trading volume of 454,438 shares, compared to its average volume of 1,319,079. 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 firm has a market cap of $21.62 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.72 and a beta of 0.95. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. The business's fifty day moving average price is $173.63 and its 200-day moving average price is $172.08.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business posted $2.50 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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