CDW Corporation $CDW Shares Sold by Goldman Sachs Group Inc.

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 stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 0.68% of CDW worth $142,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CDW. Graham Capital Management L.P. purchased a new stake in shares of CDW in the fourth quarter valued at $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CDW by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 107,672 shares of the information technology services provider's stock valued at $18,739,000 after purchasing an additional 1,156 shares during the period. OMERS ADMINISTRATION Corp grew its position in shares of CDW by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 5,590 shares of the information technology services provider's stock valued at $973,000 after purchasing an additional 947 shares during the period. NorthRock Partners LLC grew its position in shares of CDW by 68.7% in the fourth quarter. NorthRock Partners LLC now owns 2,707 shares of the information technology services provider's stock valued at $471,000 after purchasing an additional 1,102 shares during the period. Finally, Nomura Holdings Inc. grew its position in shares of CDW by 38.7% in the fourth quarter. Nomura Holdings Inc. now owns 15,891 shares of the information technology services provider's stock valued at $2,766,000 after purchasing an additional 4,431 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDW. UBS Group lowered their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. 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 report on Thursday, July 17th. Citigroup lifted 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. Finally, Barclays reduced their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Trading Down 0.9%

CDW stock traded down $1.44 during midday trading on Friday, reaching $164.29. The stock had a trading volume of 1,120,717 shares, compared to its average volume of 1,170,116. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. The stock has a market capitalization of $21.53 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.75 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The stock's 50-day simple moving average is $170.85 and its 200 day simple moving average is $170.02.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $5.98 billion for 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 firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's payout ratio is currently 31.06%.

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.