CDW Corporation $CDW Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in CDW Corporation by 47.7%, owning 104,277 shares valued at approximately $16.7 million as of its latest SEC filing.
• CDW reported earnings of $2.60 per share, surpassing analysts' expectations and reflecting a revenue increase of 10.2% year-over-year, amounting to $5.98 billion.
• The company will pay a quarterly dividend of $0.625 per share, with an annualized dividend yield of 1.5%, to stockholders of record on August 25th.

Russell Investments Group Ltd. boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 47.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,277 shares of the information technology services provider's stock after purchasing an additional 33,654 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of CDW worth $16,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CDW. GW&K Investment Management LLC raised its stake in CDW by 78.9% in 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 purchased a new stake in CDW in the fourth quarter valued at about $30,000. Bayforest Capital Ltd purchased a new stake in CDW in the first quarter valued at about $31,000. Pandora Wealth Inc. purchased a new stake in CDW in the first quarter valued at about $32,000. Finally, Stone House Investment Management LLC purchased a new stake in CDW in the first quarter valued at about $34,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded down $2.7170 during trading on Thursday, hitting $164.1930. 377,327 shares of the company traded hands, compared to its average volume of 1,322,160. The stock's 50-day simple moving average is $174.27 and its 200 day simple moving average is $173.25. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The company has a market cap of $21.52 billion, a PE ratio of 20.40, a P/E/G 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.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the business earned $2.50 earnings per share. CDW's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect 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 $0.625 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's payout ratio is currently 31.06%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CDW shares. UBS Group reduced their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays reduced 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, JPMorgan Chase & Co. raised their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. 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 currently has a consensus rating of "Hold" and an average target price 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.