CDW Corporation $CDW Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its holdings in CDW Corporation (NASDAQ:CDW) by 14.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,798 shares of the information technology services provider’s stock after selling 792 shares during the period. OMERS ADMINISTRATION Corp’s holdings in CDW were worth $769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vestcor Inc boosted its holdings in shares of 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 during the period. TD Private Client Wealth LLC boosted its holdings in shares of CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 72 shares during the period. GW&K Investment Management LLC boosted its holdings 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 valued at $27,000 after buying an additional 75 shares during the period. Benin Management CORP boosted its stake in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider’s stock valued at $521,000 after purchasing an additional 80 shares during the period. Finally, GAMMA Investing LLC boosted its stake in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 81 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Down 0.7%

Shares of NASDAQ:CDW opened at $164.76 on Tuesday. The company has a 50 day moving average of $173.25 and a 200-day moving average of $171.31. The firm has a market cap of $21.59 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.74 and a beta of 0.98. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last issued 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 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 revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued 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 payout ratio is presently 31.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDW. UBS Group cut their price target on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Citigroup boosted their price objective on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, Barclays reduced their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research report 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’s stock. Based on data from MarketBeat, CDW presently has an average rating of “Hold” and a consensus price target of $202.00.

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.