CDW Corporation $CDW Shares Sold by Zuckerman Investment Group LLC

Key Points

• Zuckerman Investment Group LLC decreased its stake in CDW Corporation by 17.4%, selling 2,075 shares during the first quarter.
• CDW Corporation recently reported $5.98 billion in revenue for the quarter, exceeding analysts' expectations of $5.51 billion, with an EPS of $2.60 beating the consensus estimate of $2.49.
• The company's stock has received mixed ratings from analysts, with 2 Buy, 4 Hold ratings, and a current average price target of $202.00.

Zuckerman Investment Group LLC decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,852 shares of the information technology services provider's stock after selling 2,075 shares during the period. Zuckerman Investment Group LLC's holdings in CDW were worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position 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 worth $2,683,767,000 after purchasing an additional 72,550 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 worth $447,596,000 after purchasing an additional 378,841 shares during the last quarter. Invesco Ltd. lifted its position 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 worth $396,157,000 after purchasing an additional 45,217 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position 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 worth $352,411,000 after purchasing an additional 1,823,788 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of 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 during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW stock traded down $1.11 on Friday, reaching $164.76. 1,109,840 shares of the stock were exchanged, compared to its average volume of 1,353,628. 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 business has a fifty day moving average price of $173.43 and a two-hundred day moving average price of $171.60. The firm has a market capitalization of $21.59 billion, a PE ratio of 20.47, a PEG ratio of 2.74 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business posted $2.50 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's payout ratio is 31.06%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective 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 boosted their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays reduced their price target 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 dropped their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.