CDW Corporation $CDW Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in CDW Corporation (NASDAQ:CDW) by 1,622.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,238 shares of the information technology services provider’s stock after buying an additional 190,500 shares during the quarter. SG Americas Securities LLC’s holdings in CDW were worth $36,118,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CDW. Vanguard Group Inc. raised its position in CDW by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock worth $2,683,767,000 after acquiring an additional 72,550 shares in the last quarter. Select Equity Group L.P. grew its stake in shares of CDW by 5.6% during the 1st quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock worth $592,311,000 after purchasing an additional 195,511 shares during the period. Invesco Ltd. increased its holdings in shares of CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock valued at $396,157,000 after purchasing an additional 45,217 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of CDW by 444.6% in the first 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 period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of CDW by 2.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,508,543 shares of the information technology services provider’s stock valued at $241,759,000 after purchasing an additional 42,472 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CDW. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Evercore ISI dropped their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Barclays decreased their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, UBS Group dropped their price target on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $190.67.

CDW Price Performance

CDW stock opened at $145.08 on Friday. The stock’s 50 day moving average price is $156.21 and its 200 day moving average price is $168.21. The firm has a market cap of $18.89 billion, a P/E ratio of 18.32, a PEG ratio of 2.04 and a beta of 1.03. 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 Corporation has a 1 year low of $137.31 and a 1 year high of $222.92.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, sell-side analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a $0.63 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. CDW’s payout ratio is currently 31.57%.

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.