SG Americas Securities LLC Lowers Stock Position in CDW Corporation $CDW

SG Americas Securities LLC lessened its position in shares of CDW Corporation (NASDAQ:CDW) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,196 shares of the information technology services provider’s stock after selling 4,089 shares during the quarter. SG Americas Securities LLC owned approximately 0.14% of CDW worth $22,412,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Barclays decreased their target price on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Citigroup cut their price target on shares of CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. Raymond James Financial set a $150.00 target price on shares of CDW in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $142.00 to $170.00 in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $144.12.

CDW Price Performance

Shares of NASDAQ CDW opened at $130.22 on Thursday. The firm has a 50-day simple moving average of $124.22 and a 200-day simple moving average of $127.79. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. 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 Corporation has a 52 week low of $97.12 and a 52 week high of $183.91.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the firm posted $2.15 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post 10.17 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

Insider Buying and Selling at CDW

In related news, Director David W. Nelms bought 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

CDW Company 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.