SVB Wealth LLC Trims Holdings in CDW Corporation $CDW

SVB Wealth LLC trimmed its holdings in CDW Corporation (NASDAQ:CDW) by 42.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,030 shares of the information technology services provider’s stock after selling 4,432 shares during the quarter. SVB Wealth LLC’s holdings in CDW were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. eCIO Inc. bought a new stake in CDW during the fourth quarter worth about $61,000. Covestor Ltd lifted its holdings in shares of CDW by 53.4% during the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 258 shares during the last quarter. American National Bank & Trust purchased a new position in shares of CDW during the fourth quarter valued at approximately $110,000. Brown Brothers Harriman & Co. boosted its position in shares of CDW by 38.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 254 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of CDW in the 4th quarter worth approximately $144,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW opened at $130.06 on Wednesday. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $183.91. The company has a market capitalization of $16.62 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The firm has a 50 day moving average of $124.25 and a 200 day moving average of $127.89. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, meeting the consensus estimate of $2.28. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.15 EPS. As a group, equities research analysts anticipate that CDW Corporation will post 10.09 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. CDW’s dividend payout ratio (DPR) is 30.66%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CDW shares. Barclays reduced their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $142.00 to $170.00 in a research note on Tuesday. UBS Group lowered their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Citigroup lowered their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.12.

Insider Buying and Selling

In other CDW news, Director David W. Nelms acquired 18,000 shares of CDW stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

CDW Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.