AEGON ASSET MANAGEMENT UK Plc Has $8.79 Million Position in CDW Corporation $CDW

Key Points

• AEGON ASSET MANAGEMENT UK Plc has reduced its holdings in CDW Corporation by 27.3% to approximately $8.79 million during Q2, owning 49,213 shares after selling 18,477 shares.
• CDW recently reported quarterly earnings of $2.60 EPS, exceeding estimates, with revenue reaching $5.98 billion, up 10.2% from the previous year.
• The company has declared a quarterly dividend of $0.625 per share, with a yielding rate of 1.7% and a payout ratio of 31.06%.

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 27.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,213 shares of the information technology services provider's stock after selling 18,477 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in CDW were worth $8,785,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its stake in CDW by 78.9% in the first 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. Bayforest Capital Ltd bought a new stake in shares of CDW during the first quarter worth $31,000. Pandora Wealth Inc. bought a new stake in shares of CDW during the first quarter worth $32,000. Stone House Investment Management LLC bought a new stake in shares of CDW during the first quarter worth $34,000. Finally, Golden State Wealth Management LLC raised its position in shares of CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Down 1.0%

Shares of CDW stock opened at $148.83 on Thursday. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $222.92. The business has a 50-day moving average of $162.22 and a two-hundred day moving average of $168.37. The company has a market capitalization of $19.51 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly 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 return on equity of 53.63% and a net margin of 4.92%.The company 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 earnings per share. The company's revenue for the quarter 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 year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were issued a dividend of $0.625 per share. The ex-dividend date was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.7%. CDW's dividend payout ratio (DPR) is presently 31.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays dropped 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. UBS Group dropped their target price on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of CDW in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Citigroup boosted their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently 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.

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