Makaira Partners LLC Reduces Position in CDW Corporation $CDW

Key Points

• Makaira Partners LLC reduced its holdings in CDW Corporation by 59.4% in Q1, selling 227,493 shares and owning 155,305 shares afterward, making it the company's 5th biggest holding.
• CDW Corporation recently reported a quarterly earnings per share (EPS) of $2.60, exceeding analysts' expectations, with a revenue of $5.98 billion, marking a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.625, equating to an annualized amount of $2.50 and a dividend yield of 1.5%.

Makaira Partners LLC decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 59.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 155,305 shares of the information technology services provider's stock after selling 227,493 shares during the period. CDW comprises about 8.3% of Makaira Partners LLC's investment portfolio, making the stock its 5th biggest holding. Makaira Partners LLC owned 0.12% of CDW worth $24,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock worth $33,255,000 after purchasing an additional 35,737 shares during the period. Unison Asset Management LLC boosted its stake in shares of CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after buying an additional 3,657 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of CDW by 1.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after buying an additional 94 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of CDW by 8.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after buying an additional 1,604 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of CDW during the 1st quarter valued at $212,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group decreased 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. Citigroup lifted their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays decreased their target price 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 research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Stock Down 0.7%

Shares of CDW stock traded down $1.11 on Friday, hitting $164.76. The company's stock had a trading volume of 1,109,840 shares, compared to its average volume of 1,353,628. 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 fifty-two week low of $137.31 and a fifty-two week high of $230.86. The firm's fifty day moving average price is $173.43 and its 200-day moving average price is $171.60. The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.74 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, beating the consensus estimate of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $2.50 EPS. CDW's quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that CDW Corporation will post 9.41 EPS for the current 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 paid 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 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.