Ameriprise Financial Inc. Raises Stock Holdings in CDW Corporation $CDW

Key Points

• Ameriprise Financial Inc. increased its stake in CDW Corporation by 13.4%, acquiring an additional 102,767 shares during the first quarter, bringing its total ownership to approximately 866,945 shares valued at $138.9 million.
• Several institutional investors have made significant changes to their holdings in CDW, with Price T Rowe Associates Inc. drastically increasing their stake by 444.6%, now owning over 1.6 million shares worth approximately $261.6 million.
• CDW recently announced a quarterly dividend of $0.625 per share, with an ex-dividend date of August 25th, indicating a robust annualized yield of 1.5% and a payout ratio of 31.06%.

Ameriprise Financial Inc. boosted its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 866,945 shares of the information technology services provider's stock after purchasing an additional 102,767 shares during the period. Ameriprise Financial Inc. owned about 0.66% of CDW worth $138,938,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in 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 worth $2,683,767,000 after purchasing an additional 72,550 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of CDW by 15.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after buying an additional 378,841 shares during the period. Invesco Ltd. increased its stake in shares of CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock valued at $396,157,000 after buying an additional 45,217 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after buying an additional 1,823,788 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of CDW by 444.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock valued at $261,564,000 after buying an additional 1,332,454 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW traded down $0.65 during trading hours on Friday, reaching $165.22. The stock had a trading volume of 425,392 shares, compared to its average volume of 1,318,272. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $230.86. The company has a 50 day moving average price of $173.55 and a two-hundred day moving average price of $171.90. The stock has a market capitalization of $21.65 billion, a PE ratio of 20.54, a PEG ratio of 2.75 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The company's revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW's payout ratio is presently 31.06%.

Analysts Set New Price Targets

CDW has been the topic of several recent research reports. Barclays reduced their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group lowered their target price on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus 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.