CDW Corporation $CDW Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of CDW Corporation (NASDAQ:CDW) by 5.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 321,762 shares of the information technology services provider’s stock after selling 18,342 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CDW were worth $38,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fenimore Asset Management Inc grew its position in CDW by 0.8% in the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after buying an additional 9,485 shares during the last quarter. Marshall Wace LLP raised its position in CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after buying an additional 430,796 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock worth $38,812,000 after acquiring an additional 48,547 shares during the period. Local Pensions Partnership Investment Ltd lifted its stake in shares of CDW by 7.8% in the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock worth $33,940,000 after acquiring an additional 18,000 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of CDW by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 230,692 shares of the information technology services provider’s stock valued at $31,420,000 after acquiring an additional 5,121 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CDW

In other news, Director David W. Nelms acquired 18,000 shares of CDW stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. Raymond James Financial set a $150.00 price objective on shares of CDW in a research report on Wednesday, May 6th. Barclays lowered their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. UBS Group cut their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.12.

CDW Price Performance

CDW stock opened at $144.39 on Monday. The company has a market cap of $18.45 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.91 and a beta of 0.97. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $183.66. The company’s 50-day moving average price is $124.65 and its 200 day moving average price is $127.10. The company has a current ratio of 1.16, a quick ratio of 1.06 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the company posted $2.15 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that CDW Corporation will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd. CDW’s dividend payout ratio (DPR) is presently 30.66%.

About CDW

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.