Stock Yards Bank & Trust Co. Sells 465 Shares of CDW Corporation $CDW

Stock Yards Bank & Trust Co. lowered its stake in shares of CDW Corporation (NASDAQ:CDW) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,679 shares of the information technology services provider’s stock after selling 465 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CDW. Price T Rowe Associates Inc. MD increased its position in CDW by 444.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock worth $261,564,000 after acquiring an additional 1,332,454 shares during the period. Manning & Napier Advisors LLC bought a new position in CDW during the first quarter worth $74,908,000. Contour Asset Management LLC bought a new position in CDW during the first quarter worth $64,505,000. Massachusetts Financial Services Co. MA raised its stake in shares of CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock valued at $447,596,000 after purchasing an additional 378,841 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of CDW in the first quarter valued at $55,739,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $159.27 on Friday. The stock’s fifty day moving average is $165.76 and its 200-day moving average is $169.21. 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 stock has a market capitalization of $20.87 billion, a PE ratio of 19.79, a PEG ratio of 2.64 and a beta of 1.01. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $226.79.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 25th. CDW’s dividend payout ratio is 31.06%.

Analyst Ratings Changes

A number of brokerages recently commented on CDW. Weiss Ratings restated a “hold (c)” rating on shares of CDW in a research note on Saturday, September 27th. Barclays cut their target price on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.