Venturi Wealth Management LLC Has $1.50 Million Stock Position in CDW Corporation $CDW

Venturi Wealth Management LLC reduced its holdings in shares of CDW Corporation (NASDAQ:CDW) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,382 shares of the information technology services provider’s stock after selling 646 shares during the quarter. Venturi Wealth Management LLC’s holdings in CDW were worth $1,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its holdings in shares of CDW by 0.9% in the second quarter. KLP Kapitalforvaltning AS now owns 79,100 shares of the information technology services provider’s stock worth $14,126,000 after acquiring an additional 700 shares during the last quarter. V Square Quantitative Management LLC increased its position in CDW by 12.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,423 shares of the information technology services provider’s stock worth $254,000 after purchasing an additional 154 shares in the last quarter. CX Institutional lifted its stake in CDW by 32.7% in the 2nd quarter. CX Institutional now owns 1,208 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 298 shares during the last quarter. Steph & Co. boosted its position in CDW by 917.6% in the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after buying an additional 624 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of CDW by 781.3% during the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider’s stock worth $488,000 after buying an additional 2,422 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $156.92 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 1.01. The company’s fifty day simple moving average is $164.28 and its 200 day simple moving average is $168.98. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $226.79.

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 firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.50 EPS. On average, analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays dropped their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of CDW in a report on Wednesday. UBS Group reduced their target price on shares of CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $202.00.

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.