Vaughan Nelson Investment Management L.P. Sells 113,971 Shares of CDW Corporation $CDW

Vaughan Nelson Investment Management L.P. cut its holdings in shares of CDW Corporation (NASDAQ:CDW) by 66.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,802 shares of the information technology services provider’s stock after selling 113,971 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in CDW were worth $10,144,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CDW. GW&K Investment Management LLC increased its holdings in shares of CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of CDW during the first quarter worth $31,000. Pandora Wealth Inc. acquired a new position in shares of CDW during the first quarter worth $32,000. Stone House Investment Management LLC acquired a new position in shares of CDW during the first quarter worth $34,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock worth $42,000 after buying an additional 185 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CDW shares. Barclays decreased their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Citigroup increased their price target on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. UBS Group decreased their price target on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CDW in a report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $202.00.

CDW Price Performance

CDW stock opened at $159.27 on Friday. The stock has a market capitalization of $20.87 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.64 and a beta of 1.01. The company’s 50-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 current ratio of 1.35 and a quick ratio of 1.22. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $226.79.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. Equities research analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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

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.