SG Americas Securities LLC Trims Position in CDW Corporation $CDW

SG Americas Securities LLC decreased its position in shares of CDW Corporation (NASDAQ:CDW) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,196 shares of the information technology services provider’s stock after selling 4,089 shares during the quarter. SG Americas Securities LLC’s holdings in CDW were worth $22,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. eCIO Inc. acquired a new stake in CDW during the fourth quarter worth about $61,000. Covestor Ltd boosted 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 valued at $101,000 after purchasing an additional 258 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of CDW in the 4th quarter valued at approximately $110,000. Brown Brothers Harriman & Co. increased its holdings 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 buying an additional 254 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of CDW during the 4th quarter valued at approximately $144,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CDW shares. UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Barclays dropped their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $150.00 price target on shares of CDW in a research note on Wednesday, May 6th. Citigroup decreased their price objective on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.12.

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 price of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $130.22 on Thursday. The firm’s 50 day moving average is $124.22 and its two-hundred day moving average is $127.79. 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. The firm has a market capitalization of $16.64 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.73 and a beta of 1.00.

CDW (NASDAQ:CDW) last announced 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. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.15 EPS. Research analysts forecast that CDW Corporation will post 10.17 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were given 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 1.9%. CDW’s dividend payout ratio is presently 30.66%.

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.