SG Americas Securities LLC Reduces Holdings in CDW Corporation $CDW

SG Americas Securities LLC reduced its position in CDW Corporation (NASDAQ:CDW) by 85.2% in the 3rd quarter, Holdings Channel reports. The firm owned 29,953 shares of the information technology services provider’s stock after selling 172,285 shares during the period. SG Americas Securities LLC’s holdings in CDW were worth $4,771,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Bayforest Capital Ltd acquired a new position in CDW during the first quarter worth approximately $31,000. Steph & Co. boosted its holdings in shares of CDW by 917.6% in the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after acquiring an additional 624 shares during the period. MassMutual Private Wealth & Trust FSB grew 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 worth $146,000 after acquiring an additional 281 shares during the last quarter. CX Institutional increased its holdings in shares of CDW by 32.7% in the 2nd quarter. CX Institutional now owns 1,208 shares of the information technology services provider’s stock valued at $216,000 after acquiring an additional 298 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of CDW by 197.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,406 shares of the information technology services provider’s stock valued at $251,000 after acquiring an additional 934 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDW. Barclays decreased their price target on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley decreased their target price on shares of CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Evercore ISI dropped their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average price target of $186.43.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 7,400 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the sale, the insider owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

CDW Trading Up 0.7%

NASDAQ CDW opened at $133.49 on Friday. The stock has a market capitalization of $17.38 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.74 and a beta of 1.08. CDW Corporation has a 52-week low of $126.93 and a 52-week high of $222.92. The firm has a 50-day moving average price of $141.68 and a 200 day moving average price of $157.95. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. Equities research analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were given a $0.63 dividend. The ex-dividend date was Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a yield of 1.9%. CDW’s dividend payout ratio (DPR) is currently 31.82%.

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.