69,999 Shares in CDW Corporation (NASDAQ:CDW) Purchased by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc has purchased 69,999 shares of CDW Corporation, valued at approximately $11.2 million, making it the 23rd largest position in their portfolio.
• CDW reported $2.60 earnings per share for the last quarter, exceeding estimates and marking a year-over-year revenue increase of 10.2%.
• The company announced a quarterly dividend of $0.625 per share, with a yield of 1.5%, to be paid on September 10th.

MUFG Securities EMEA plc purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 69,999 shares of the information technology services provider's stock, valued at approximately $11,218,000. CDW comprises 0.3% of MUFG Securities EMEA plc's portfolio, making the stock its 23rd biggest position. MUFG Securities EMEA plc owned about 0.05% of CDW at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its holdings in CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after purchasing an additional 1,823,788 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after purchasing an additional 1,372,874 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in CDW in the 4th quarter valued at about $105,705,000. Manning & Napier Advisors LLC purchased a new stake in shares of CDW in the 1st quarter valued at approximately $74,908,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $447,596,000 after acquiring an additional 378,841 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW opened at $162.92 on Friday. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The firm's 50 day moving average price is $176.17 and its 200 day moving average price is $174.95. The company has a market cap of $21.45 billion, a P/E ratio of 20.24, a PEG ratio of 2.72 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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 net margin of 4.92% and a return on equity of 53.63%. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $2.50 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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

Insider Buying and Selling

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the transaction, the insider owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target 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. Barclays reduced their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday. Citigroup boosted their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group reduced 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CDW presently has an average rating of "Hold" and an average price target of $202.00.

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.

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