APG Asset Management N.V. Sells 18,775 Shares of CDW Corporation $CDW

Key Points

• APG Asset Management N.V. has decreased its holdings in CDW Corporation by 9.2%, selling 18,775 shares and retaining approximately 185,217 shares valued at $27.48 million.
• Recent analyst reports indicate mixed sentiment with UBS dropping its price target to $200 but maintaining a "buy" rating, while JPMorgan raised it to $205 with a "neutral" rating.
• CDW reported a quarterly EPS of $2.60, exceeding estimates and achieving a revenue of $5.98 billion, with a declared quarterly dividend of $0.625 set to be paid on September 10th.

APG Asset Management N.V. cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,217 shares of the information technology services provider's stock after selling 18,775 shares during the period. APG Asset Management N.V. owned approximately 0.14% of CDW worth $27,479,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its stake in shares of 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 during the period. Orion Capital Management LLC purchased a new position in shares of CDW during the 4th quarter worth about $30,000. Bayforest Capital Ltd purchased a new position in shares of CDW during the 1st quarter worth about $31,000. Pandora Wealth Inc. purchased a new position in shares of CDW during the 1st quarter worth about $32,000. Finally, Stone House Investment Management LLC purchased a new position in shares of CDW during the 1st quarter worth about $34,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CDW. UBS Group dropped their price target 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. JPMorgan Chase & Co. lifted their price target 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. Citigroup lifted their price target 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. Finally, Barclays dropped their price target 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. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Price Performance

CDW stock opened at $167.00 on Friday. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. 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 Corporation has a 1 year low of $137.31 and a 1 year high of $231.38. The firm has a 50-day moving average of $173.99 and a two-hundred day moving average of $172.56.

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, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. On average, research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio is presently 31.06%.

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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