Aberdeen Group plc Has $17.47 Million Stock Holdings in CDW Corporation $CDW

Key Points

• Aberdeen Group plc increased its stake in CDW Corporation by 128.9% in the first quarter, owning approximately 0.08% of the company with a value of $17.5 million.
• CDW reported earnings of $2.60 per share, surpassing analyst expectations of $2.49, with a 10.2% year-over-year revenue growth of $5.98 billion during the last quarter.
• The company announced a quarterly dividend of $0.625 per share, reflecting an annualized yield of 1.5% and highlighting a dividend payout ratio of 31.06%.

Aberdeen Group plc raised its position in CDW Corporation (NASDAQ:CDW - Free Report) by 128.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,114 shares of the information technology services provider's stock after acquiring an additional 61,455 shares during the period. Aberdeen Group plc owned about 0.08% of CDW worth $17,468,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 valued at $2,683,767,000 after acquiring an additional 72,550 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of CDW by 15.7% in the 1st 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 purchasing an additional 378,841 shares during the period. Invesco Ltd. grew its stake in shares of CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock valued at $396,157,000 after purchasing an additional 45,217 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of CDW by 906.9% in the 4th 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 purchasing an additional 1,823,788 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of CDW by 10.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock valued at $282,701,000 after purchasing an additional 157,747 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

NASDAQ CDW traded up $2.82 during trading hours on Friday, reaching $167.00. 1,576,479 shares of the company's stock were exchanged, compared to its average volume of 1,231,103. The stock has a market cap of $21.89 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95. CDW Corporation has a one year low of $137.31 and a one year high of $231.38. The firm has a fifty day moving average of $173.99 and a 200-day moving average of $172.79. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

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, 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 analyst estimates of $5.51 billion. During the same period in the prior year, the company earned $2.50 EPS. CDW's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is 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%.

Analyst Ratings Changes

Several research firms have recently weighed in on CDW. JPMorgan Chase & Co. upped their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Barclays lowered their price objective 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. Citigroup upped their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group lowered their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and an average price target of $202.00.

About CDW

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.