CDW Corporation $CDW Stake Cut by FORA Capital LLC

Key Points

• FORA Capital LLC has decreased its stake in CDW Corporation by 24.7%, reducing its holdings to 25,340 shares worth approximately $4.06 million.
• CDW recently announced a quarterly dividend of $0.625 per share, resulting in an annualized yield of 1.5%.
• Wall Street analysts have mixed outlooks for CDW, with a consensus rating of "Hold" and a target price of $202.00.

FORA Capital LLC lowered its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 24.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,340 shares of the information technology services provider's stock after selling 8,334 shares during the quarter. FORA Capital LLC's holdings in CDW were worth $4,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of CDW by 0.4% during 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 during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of CDW by 15.7% during 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 acquiring an additional 378,841 shares during the last quarter. Invesco Ltd. increased its stake in shares of CDW by 1.9% during 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 acquiring an additional 45,217 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of CDW by 906.9% during 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 acquiring an additional 1,823,788 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in CDW by 444.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after purchasing an additional 1,332,454 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays dropped 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 report on Thursday, August 7th. Finally, UBS Group decreased their price target on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Stock Down 0.7%

Shares of CDW stock traded down $1.11 on Friday, hitting $164.76. 1,109,840 shares of the company's stock traded hands, compared to its average volume of 1,353,628. The stock has a market cap of $21.59 billion, a P/E ratio of 20.47, a PEG ratio of 2.74 and a beta of 0.95. 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's 50-day moving average is $173.43 and its 200 day moving average is $171.60. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. Equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. 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.