Adage Capital Partners GP L.L.C. Boosts Holdings in CDW Corporation $CDW

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in CDW Corporation by 24.6%, bringing its total ownership to 86,600 shares worth approximately $13.88 million.
• CDW reported earnings of $2.60 per share for the quarter, exceeding estimates of $2.49, with revenues of $5.98 billion compared to expectations of $5.51 billion.
• The company declared a quarterly dividend of $0.625 per share, representing an annual yield of 1.5%, scheduled for payment on September 10th.

Adage Capital Partners GP L.L.C. boosted its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 24.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,600 shares of the information technology services provider's stock after acquiring an additional 17,100 shares during the period. Adage Capital Partners GP L.L.C. owned 0.07% of CDW worth $13,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDW. Cary Street Partners Financial LLC purchased a new stake in CDW during the fourth quarter valued at approximately $218,000. Captrust Financial Advisors lifted its position in CDW by 48.3% during the fourth quarter. Captrust Financial Advisors now owns 16,887 shares of the information technology services provider's stock valued at $2,939,000 after acquiring an additional 5,500 shares during the last quarter. EP Wealth Advisors LLC lifted its position in CDW by 6.1% during the fourth quarter. EP Wealth Advisors LLC now owns 5,899 shares of the information technology services provider's stock valued at $1,027,000 after acquiring an additional 339 shares during the last quarter. Deutsche Bank AG lifted its position in CDW by 55.0% during the fourth quarter. Deutsche Bank AG now owns 535,207 shares of the information technology services provider's stock valued at $93,147,000 after acquiring an additional 189,963 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of CDW in the fourth quarter worth $214,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Up 2.1%

Shares of CDW stock opened at $169.73 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The firm has a fifty day moving average price of $172.24 and a 200 day moving average price of $170.88. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The stock has a market cap of $22.24 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter last year, the company posted $2.50 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that CDW Corporation will post 9.41 earnings per share for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio (DPR) is 31.06%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDW shares. Barclays decreased their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. UBS Group decreased their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.

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