CDW Corporation $CDW Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in CDW Corporation by 103.6% during the first quarter, owning 7,383 shares valued at approximately $1.18 million.
• CDW reported quarterly earnings of $2.60 per share, exceeding analyst expectations, with revenues of $5.98 billion, a 10.2% increase from the previous year.
• The company declared a quarterly dividend of $0.625 per share, with an annualized yield of 1.5%, to be paid on September 10th.

AlphaQuest LLC boosted its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 103.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,383 shares of the information technology services provider's stock after acquiring an additional 3,756 shares during the quarter. AlphaQuest LLC's holdings in CDW were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc lifted its position in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after acquiring an additional 71 shares during the period. TD Private Client Wealth LLC lifted its position in CDW by 30.3% during the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after acquiring an additional 72 shares during the period. GW&K Investment Management LLC lifted its position in 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 acquiring an additional 75 shares during the period. Benin Management CORP lifted its position in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after acquiring an additional 80 shares during the period. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

Shares of CDW stock opened at $167.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38. The business has a 50-day moving average price of $173.99 and a 200 day moving average price of $172.56. The firm has a market cap of $21.89 billion, a PE ratio of 20.75, a P/E/G ratio of 2.78 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm 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 revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared 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 is Monday, August 25th. CDW's payout ratio is currently 31.06%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CDW shares. Barclays reduced their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Citigroup lifted 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. UBS Group reduced their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted 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. 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.com, CDW has a consensus rating of "Hold" and an average price target of $202.00.

CDW Company 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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