Aigen Investment Management LP Sells 21,044 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Aigen Investment Management LP reduced its stake in CDW Corporation by 72.8%, selling 21,044 shares, and now holds 7,851 shares valued at approximately $1.26 million.
• Several hedge funds have recently altered their positions in CDW, with GW&K Investment Management increasing its holdings by 78.9% and various others acquiring new stakes.
• CDW's latest quarterly earnings report revealed an EPS of $2.60, beating expectations, with a revenue increase of 10.2% year-over-year.

Aigen Investment Management LP trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 72.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,851 shares of the information technology services provider's stock after selling 21,044 shares during the quarter. Aigen Investment Management LP's holdings in CDW were worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. lifted its stake in shares of CDW by 23.7% during the fourth quarter. Federated Hermes Inc. now owns 1,092 shares of the information technology services provider's stock worth $190,000 after buying an additional 209 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of CDW during the fourth quarter worth $26,071,000. Raymond James Financial Inc. acquired a new position in CDW during the fourth quarter valued at $27,243,000. Capital Fund Management S.A. acquired a new position in CDW during the fourth quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina lifted its position in CDW by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 60,655 shares of the information technology services provider's stock valued at $10,556,000 after purchasing an additional 270 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock traded down $1.50 during trading hours on Friday, reaching $164.59. The company had a trading volume of 578,364 shares, compared to its average volume of 1,326,630. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The stock has a fifty day moving average of $175.19 and a 200-day moving average of $174.10. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.81 and a beta of 0.95. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $2.50 EPS. On average, equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CDW shares. JPMorgan Chase & Co. boosted their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group decreased their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Barclays decreased 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 report on Thursday, August 7th. Finally, Citigroup upped their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.