Delta Investment Management LLC Sells 509 Shares of CDW Corporation $CDW

Delta Investment Management LLC trimmed its holdings in CDW Corporation (NASDAQ:CDW) by 20.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,036 shares of the information technology services provider’s stock after selling 509 shares during the quarter. Delta Investment Management LLC’s holdings in CDW were worth $326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Coldstream Capital Management Inc. boosted its stake in CDW by 11.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider’s stock worth $309,000 after purchasing an additional 184 shares during the period. Quarry LP bought a new position in CDW in the 4th quarter worth approximately $48,000. Optiver Holding B.V. boosted its stake in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 119 shares during the period. Northern Trust Corp boosted its stake in CDW by 15.3% in the 4th quarter. Northern Trust Corp now owns 1,442,637 shares of the information technology services provider’s stock worth $251,077,000 after purchasing an additional 191,037 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its stake in CDW by 659.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 50,103 shares of the information technology services provider’s stock worth $8,720,000 after purchasing an additional 43,507 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group dropped their price target on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Barclays lowered their target price 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. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, CDW currently has an average rating of “Hold” and an average target price of $202.00.

CDW Stock Up 1.0%

NASDAQ CDW opened at $165.23 on Thursday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The company has a market capitalization of $21.66 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.72 and a beta of 0.95. CDW Corporation has a one year low of $137.31 and a one year high of $230.86. The stock has a 50 day moving average price of $173.63 and a 200-day moving average price of $172.08.

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

CDW Dividend Announcement

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

About CDW

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.