Semmax Financial Advisors Inc. Has $64,000 Stock Holdings in CDW Corporation $CDW

Semmax Financial Advisors Inc. trimmed its position in CDW Corporation (NASDAQ:CDW) by 61.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401 shares of the information technology services provider’s stock after selling 627 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in CDW were worth $64,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock valued at $261,564,000 after purchasing an additional 1,332,454 shares during the last quarter. Voloridge Investment Management LLC bought a new position in CDW in the fourth quarter valued at approximately $105,705,000. Manning & Napier Advisors LLC bought a new position in CDW in the first quarter valued at approximately $74,908,000. Contour Asset Management LLC acquired a new stake in CDW during the 1st quarter worth $64,505,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of CDW by 15.7% during the 1st 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 acquiring an additional 378,841 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Up 0.7%

NASDAQ:CDW opened at $168.95 on Wednesday. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The stock has a 50-day moving average price of $171.78 and a two-hundred day moving average price of $170.42. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.79 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $2.50 earnings per share. CDW’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW’s payout ratio is presently 31.06%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CDW shares. Barclays reduced their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Citigroup raised their target price on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a report 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 cut their price target on shares of CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.