Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in CDW Corporation $CDW

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of CDW Corporation (NASDAQ:CDW) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,762 shares of the information technology services provider’s stock after selling 18,342 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of CDW worth $38,940,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Root Financial Partners LLC lifted its holdings in CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares during the last quarter. eCIO Inc. purchased a new position in shares of CDW in the 4th quarter valued at about $61,000. Covestor Ltd increased its holdings in shares of CDW by 53.4% in the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 258 shares during the last quarter. American National Bank & Trust purchased a new position in shares of CDW in the 4th quarter valued at about $110,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of CDW by 38.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW opened at $144.39 on Monday. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth 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 business’s 50 day moving average is $124.65 and its two-hundred day moving average is $127.10. 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 posted its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, meeting the consensus estimate of $2.28. The business had revenue of $5.68 billion during 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 in the prior year, the company earned $2.15 earnings per share. On average, research analysts predict that CDW Corporation will post 10.21 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. CDW’s dividend payout ratio is currently 30.66%.

Insiders Place Their Bets

In other CDW news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CDW shares. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $142.00 to $170.00 in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Citigroup dropped their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, UBS Group cut their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $144.12.

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.