CDW Corporation $CDW Stake Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in CDW Corporation (NASDAQ:CDW) by 9.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,552 shares of the information technology services provider’s stock after purchasing an additional 31,365 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of CDW worth $64,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in CDW by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock worth $2,683,767,000 after purchasing an additional 72,550 shares in the last quarter. Select Equity Group L.P. increased its stake in CDW by 5.6% in the 1st quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock worth $592,311,000 after purchasing an additional 195,511 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in CDW by 15.7% in the 1st 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 purchasing an additional 378,841 shares in the last quarter. Invesco Ltd. increased its stake in CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock worth $396,157,000 after purchasing an additional 45,217 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in CDW by 444.6% during the 1st 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 during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup increased their price target 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. UBS Group cut their target price on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of CDW in a research note on Wednesday, October 8th. Evercore ISI lowered their price target on shares of CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Barclays reduced their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $201.71.

CDW Stock Performance

Shares of NASDAQ CDW opened at $158.16 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The business’s 50 day moving average is $161.07 and its two-hundred day moving average is $168.68. The company has a market cap of $20.73 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.63 and a beta of 1.01. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $222.92.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm earned $2.50 EPS. CDW’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 25th. CDW’s dividend payout ratio is 31.06%.

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.