CDW Corporation $CDW Stake Raised by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in CDW Corporation by 13.0% during the first quarter, owning 21,389 shares valued at about $3.4 million.
• CDW's most recent quarterly earnings exceeded expectations with $2.60 earnings per share and revenue of $5.98 billion, marking a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.625 per share, providing a 1.5% yield with a payout ratio of 31.06%.

Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,389 shares of the information technology services provider's stock after buying an additional 2,456 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in CDW were worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC raised its holdings in shares of 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 valued at $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $30,000. Bayforest Capital Ltd acquired a new position in shares of CDW during the first quarter valued at approximately $31,000. Pandora Wealth Inc. acquired a new position in shares of CDW during the first quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC acquired a new position in shares of CDW during the first quarter valued at approximately $34,000. Institutional investors own 93.15% of the company's stock.

CDW Trading Down 0.4%

CDW stock opened at $166.91 on Thursday. 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 firm has a market cap of $21.88 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $231.38. The firm's 50 day moving average price is $174.27 and its two-hundred day moving average price is $173.25.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. On average, research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.5%. CDW's payout ratio is 31.06%.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective 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. Barclays lowered their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Citigroup raised their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group lowered 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.

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