CDW Corporation $CDW Shares Sold by Fiduciary Management Inc. WI

Key Points

• Fiduciary Management Inc. reduced its stake in CDW Corporation by 1.8%, now holding 718,787 shares valued at $115 million.
• CDW reported a 10.2% increase in revenue year-over-year, reaching $5.98 billion, with earnings per share of $2.60 for the last quarter.
• The company announced a $0.625 quarterly dividend, providing a yield of 1.5% to shareholders on record by August 25th.

Fiduciary Management Inc. WI trimmed its position in CDW Corporation (NASDAQ:CDW - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 718,787 shares of the information technology services provider's stock after selling 12,874 shares during the period. Fiduciary Management Inc. WI owned 0.55% of CDW worth $115,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of 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 valued at $33,255,000 after acquiring an additional 35,737 shares during the period. Unison Asset Management LLC increased its position in shares of CDW by 9.4% in 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 acquiring an additional 3,657 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of CDW by 1.6% in 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 acquiring an additional 94 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of CDW by 8.7% in 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 acquiring an additional 1,604 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of CDW in the 1st quarter valued at $212,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CDW. Citigroup upped their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays lowered their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. UBS Group lowered their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Trading Down 1.6%

Shares of CDW stock opened at $164.18 on Friday. The firm has a 50-day simple moving average of $174.06 and a two-hundred day simple moving average of $173.01. The company has a market cap of $21.52 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion during 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%. The company's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 earnings per share. As a group, equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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 given a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio is 31.06%.

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.

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