SVB Wealth LLC Sells 9,873 Shares of CDW Corporation $CDW

SVB Wealth LLC trimmed its position in shares of CDW Corporation (NASDAQ:CDW) by 38.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,831 shares of the information technology services provider’s stock after selling 9,873 shares during the quarter. SVB Wealth LLC’s holdings in CDW were worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CDW. Horizon Investments LLC increased its position in CDW by 4.6% during the first quarter. Horizon Investments LLC now owns 1,911 shares of the information technology services provider’s stock valued at $306,000 after acquiring an additional 84 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its stake in shares of CDW by 2.3% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 4,244 shares of the information technology services provider’s stock valued at $680,000 after purchasing an additional 95 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of CDW by 5.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,988 shares of the information technology services provider’s stock valued at $319,000 after purchasing an additional 96 shares during the last quarter. Brooklyn Investment Group increased its position in shares of CDW by 33.9% during the 1st quarter. Brooklyn Investment Group now owns 529 shares of the information technology services provider’s stock valued at $85,000 after purchasing an additional 134 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of CDW by 12.1% in 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 during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 0.2%

Shares of CDW stock opened at $145.94 on Tuesday. The stock’s 50-day simple moving average is $149.23 and its 200-day simple moving average is $164.10. The firm has a market capitalization of $19.00 billion, a PE ratio of 18.43, a P/E/G ratio of 2.04 and a beta of 1.07. CDW Corporation has a fifty-two week low of $135.63 and a fifty-two week high of $222.92. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. Equities analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.7%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, November 25th. CDW’s payout ratio is 31.82%.

Analyst Ratings Changes

CDW has been the subject of a number of research reports. Barclays reduced their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Evercore ISI reduced their target price on shares of CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. UBS Group lowered their target price on shares of CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price on the stock in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.86.

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.