SG Americas Securities LLC Lowers Stake in CDW Corporation $CDW

SG Americas Securities LLC lessened its stake in CDW Corporation (NASDAQ:CDW) by 85.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,953 shares of the information technology services provider’s stock after selling 172,285 shares during the period. SG Americas Securities LLC’s holdings in CDW were worth $4,771,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CDW. Marshall Wace LLP grew its stake in shares of CDW by 245.7% in the second quarter. Marshall Wace LLP now owns 168,452 shares of the information technology services provider’s stock valued at $30,084,000 after buying an additional 119,719 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after acquiring an additional 45,950 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in CDW by 9.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 363,552 shares of the information technology services provider’s stock valued at $64,927,000 after acquiring an additional 31,365 shares during the period. DNB Asset Management AS grew its position in CDW by 733.9% in the 2nd quarter. DNB Asset Management AS now owns 25,641 shares of the information technology services provider’s stock valued at $4,579,000 after acquiring an additional 22,566 shares in the last quarter. Finally, Crescent Grove Advisors LLC increased its stake in CDW by 12.6% during the second quarter. Crescent Grove Advisors LLC now owns 160,740 shares of the information technology services provider’s stock worth $28,707,000 after purchasing an additional 18,009 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $133.49 on Friday. The company has a market cap of $17.38 billion, a P/E ratio of 16.85, a PEG ratio of 1.74 and a beta of 1.08. The firm has a fifty day moving average price of $141.68 and a 200 day moving average price of $157.95. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. CDW Corporation has a 12 month low of $126.93 and a 12 month high of $222.92.

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

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were paid a $0.63 dividend. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, November 25th. CDW’s payout ratio is currently 31.82%.

Insiders Place Their Bets

In other news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the completion of the sale, the insider owned 28,110 shares in the company, valued at approximately $4,108,838.70. The trade was a 20.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of several recent research reports. Barclays lowered their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley decreased their price target on shares of CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Evercore ISI dropped their price target on shares of CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a research note on Tuesday, November 25th. Finally, UBS Group decreased their target price on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.43.

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.