Advisors Asset Management Inc. Sells 3,904 Shares of 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. lessened its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 25.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc increased its holdings in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after purchasing an additional 71 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in CDW by 30.3% during the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after purchasing an additional 72 shares in the last quarter. GW&K Investment Management LLC increased its holdings in CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Benin Management CORP increased its holdings in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after purchasing an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDW. UBS Group reduced their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Barclays reduced their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, CDW presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Trading Up 2.1%

Shares of CDW stock opened at $169.73 on Monday. The firm has a 50 day moving average price of $172.24 and a two-hundred day moving average price of $170.56. 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 market capitalization of $22.24 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.82 and a beta of 0.98. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.50 earnings per share. As a group, analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be given a dividend of $0.625 per share. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

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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