Advisors Asset Management Inc. Reduces Holdings in CDW Corporation $CDW

Key Points

• Advisors Asset Management Inc. reduced its holdings in CDW Corporation by 25.5% in Q1, now owning 11,433 shares worth approximately $1.83 million.
• CDW's latest quarterly earnings surpassed expectations, reporting $2.60 EPS and $5.98 billion in revenue, a 10.2% increase year-over-year.
• The company has announced a quarterly dividend of $0.625 per share, leading to an annualized dividend yield of 1.5%.

Advisors Asset Management Inc. decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,433 shares of the information technology services provider's stock after selling 3,904 shares during the period. Advisors Asset Management Inc.'s holdings in CDW were worth $1,832,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of CDW by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after buying an additional 72,550 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 worth $447,596,000 after acquiring an additional 378,841 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock worth $396,157,000 after acquiring an additional 45,217 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after acquiring an additional 1,332,454 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of CDW by 10.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock worth $282,701,000 after acquiring an additional 157,747 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Down 0.1%

CDW stock traded down $0.17 during mid-day trading on Friday, reaching $165.57. 361,419 shares of the company's stock were exchanged, compared to its average volume of 1,316,157. The company has a market cap of $21.70 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.84 and a beta of 0.98. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. 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 company has a fifty day moving average of $171.21 and a 200-day moving average of $170.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.92% and a return on equity of 53.63%. The company 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 posted $2.50 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CDW shares. Barclays decreased their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Citigroup upped 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. Finally, UBS Group decreased their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $202.00.

CDW 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.