Venturi Wealth Management LLC Sells 646 Shares of CDW Corporation $CDW

Venturi Wealth Management LLC trimmed its position in CDW Corporation (NASDAQ:CDW) by 7.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,382 shares of the information technology services provider’s stock after selling 646 shares during the quarter. Venturi Wealth Management LLC’s holdings in CDW were worth $1,497,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock worth $33,255,000 after purchasing an additional 35,737 shares in the last quarter. Unison Asset Management LLC raised its holdings in CDW by 9.4% during the first quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider’s stock worth $6,339,000 after buying an additional 3,657 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CDW by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider’s stock valued at $963,000 after buying an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of CDW by 8.7% during the first quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider’s stock valued at $3,204,000 after buying an additional 1,604 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of CDW during the first quarter valued at about $212,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

CDW stock opened at $156.92 on Thursday. 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 firm has a market cap of $20.57 billion, a PE ratio of 19.49, a P/E/G ratio of 2.58 and a beta of 1.01. The business has a 50 day moving average of $164.28 and a 200-day moving average of $168.98. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $226.79.

CDW (NASDAQ:CDW) last posted 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. The business 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 was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, sell-side analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were issued a dividend of $0.625 per share. 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 (DPR) is 31.06%.

Analysts Set New Price Targets

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