CDW Corporation $CDW Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its stake in CDW Corporation (NASDAQ:CDW) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the information technology services provider’s stock after selling 465 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $836,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CDW. Price T Rowe Associates Inc. MD raised its position in CDW by 444.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock worth $261,564,000 after acquiring an additional 1,332,454 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in CDW in the first quarter worth about $74,908,000. Contour Asset Management LLC bought a new stake in CDW in the first quarter worth about $64,505,000. Massachusetts Financial Services Co. MA raised its position in CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock worth $447,596,000 after acquiring an additional 378,841 shares in the last quarter. Finally, Nuveen LLC bought a new stake in CDW in the first quarter worth about $55,739,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 0.1%

Shares of CDW stock opened at $159.27 on Friday. The stock has a market capitalization of $20.87 billion, a P/E ratio of 19.79, a PEG ratio of 2.64 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $226.79. The stock has a 50 day moving average price of $165.76 and a two-hundred day moving average price of $169.21.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 25th. CDW’s payout ratio is currently 31.06%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of CDW in a report on Saturday, September 27th. Barclays dropped their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. UBS Group dropped their price target on shares of CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $202.00.

CDW Company 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.