Sumitomo Mitsui Trust Group Inc. Has $64.93 Million Position in CDW Corporation $CDW

Sumitomo Mitsui Trust Group Inc. grew its holdings in CDW Corporation (NASDAQ:CDW) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 363,552 shares of the information technology services provider’s stock after purchasing an additional 31,365 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CDW were worth $64,927,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CDW shares. Evercore ISI cut their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CDW in a research note on Wednesday, October 8th. Citigroup upped their price target on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price target on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Three 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $201.71.

CDW Stock Down 0.2%

Shares of CDW stock opened at $158.16 on Monday. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $222.92. The business has a 50-day moving average of $161.07 and a two-hundred day moving average of $168.68. The company has a market capitalization of $20.73 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.01. 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 (NASDAQ:CDW) last posted 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 business 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%.CDW’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.50 earnings per share. As a group, equities analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a dividend of $0.625 per share. 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 is 31.06%.

About CDW

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.