Caxton Associates LLP Purchases New Position in CDW Corporation $CDW

Key Points

• Caxton Associates LLP invested approximately $951,000 to acquire 5,932 shares of CDW Corporation during the first quarter of the year.
• CDW reported a quarterly earnings per share (EPS) of $2.60, exceeding analysts' expectations, with revenues of $5.98 billion, marking a 10.2% increase year-over-year.
• The company announced a dividend of $0.625 per share, demonstrating an annual yield of 1.5% and a payout ratio of 31.06%.

Caxton Associates LLP acquired a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,932 shares of the information technology services provider's stock, valued at approximately $951,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vestcor Inc boosted its holdings in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after purchasing an additional 71 shares during the period. TD Private Client Wealth LLC grew its stake in shares of CDW by 30.3% during the first quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after buying an additional 72 shares during the last quarter. GW&K Investment Management LLC increased its holdings in CDW by 78.9% in 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 position in CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after acquiring an additional 80 shares during the period. Finally, GAMMA Investing LLC lifted 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 buying an additional 81 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

NASDAQ:CDW traded down $1.44 during trading hours on Friday, hitting $164.29. 1,120,717 shares of the company's stock traded hands, compared to its average volume of 1,170,116. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $230.86. 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 firm has a market cap of $21.53 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.75 and a beta of 0.98. The business's fifty day simple moving average is $170.85 and its two-hundred day simple moving average is $170.08.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion for 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%. CDW's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. On average, research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's dividend payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of analyst reports. UBS Group lowered their target price 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 report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.