Goldman Sachs Group Inc. Trims Position in CDW Corporation $CDW

Key Points

• Goldman Sachs Group Inc. reduced its stake in CDW Corporation by 4.0%, selling 37,454 shares during the first quarter and now owning 0.68% of the company valued at approximately $142.5 million.
• CDW reported quarterly earnings of $2.60 EPS, exceeding analysts' estimates of $2.49, along with a revenue of $5.98 billion, which was significantly higher than the anticipated $5.51 billion.
• The company recently declared a quarterly dividend of $0.625, yielding 1.5%, and maintains a dividend payout ratio of 31.06%.

Goldman Sachs Group Inc. decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 888,896 shares of the information technology services provider's stock after selling 37,454 shares during the period. Goldman Sachs Group Inc. owned approximately 0.68% of CDW worth $142,455,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CDW. GW&K Investment Management LLC raised its stake in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 75 shares during the period. Orion Capital Management LLC acquired a new position in shares of CDW in the 4th quarter valued at $30,000. Bayforest Capital Ltd purchased a new position in shares of CDW during the 1st quarter worth $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW during the 1st quarter worth about $32,000. Finally, Stone House Investment Management LLC purchased a new stake in CDW in the 1st quarter valued at about $34,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CDW. JPMorgan Chase & Co. boosted their price target 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 price target on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Barclays dropped 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. Finally, Citigroup raised their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Price Performance

Shares of NASDAQ:CDW traded up $1.54 on Wednesday, reaching $167.69. 140,292 shares of the company were exchanged, compared to its average volume of 1,314,398. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The firm has a market cap of $21.98 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.71 and a beta of 0.98. The company has a 50-day moving average of $170.28 and a 200-day moving average of $169.89.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the firm earned $2.50 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's dividend payout ratio is currently 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.