Norris Perne & French LLP MI Sells 1,361 Shares of CDW Corporation $CDW

Norris Perne & French LLP MI cut its position in shares of CDW Corporation (NASDAQ:CDW) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,234 shares of the information technology services provider’s stock after selling 1,361 shares during the period. Norris Perne & French LLP MI’s holdings in CDW were worth $9,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CX Institutional increased its position in shares of CDW by 32.7% during the second quarter. CX Institutional now owns 1,208 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 298 shares during the period. Steph & Co. increased its position in shares of CDW by 917.6% during the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after purchasing an additional 624 shares during the period. TD Private Client Wealth LLC increased its position in shares of CDW by 781.3% during the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider’s stock valued at $488,000 after purchasing an additional 2,422 shares during the period. GAMMA Investing LLC increased its position in shares of CDW by 39.6% during the second quarter. GAMMA Investing LLC now owns 2,928 shares of the information technology services provider’s stock valued at $523,000 after purchasing an additional 830 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of CDW by 52.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the information technology services provider’s stock valued at $146,000 after purchasing an additional 281 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $164.37 on Monday. The business’s fifty day moving average price is $167.79 and its two-hundred day moving average price is $169.57. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $229.00. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. As a group, analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW’s dividend payout ratio is presently 31.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. UBS Group lowered their price objective on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Barclays lowered their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Finally, Citigroup upped their price target on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $202.00.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.