CDW Corporation (NASDAQ:CDW) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in CDW Corporation by 3.8%, selling 1,700 shares, leading to total holdings worth approximately $6.92 million.
• CDW experienced a positive quarterly earnings report with $2.60 earnings per share, surpassing estimates and showcasing a 10.2% increase in revenue year-over-year.
• A quarterly dividend of $0.625 per share has been announced, representing an annualized dividend yield of 1.5% and a payout ratio of 31.06%.

Forsta AP Fonden decreased its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,200 shares of the information technology services provider's stock after selling 1,700 shares during the quarter. Forsta AP Fonden's holdings in CDW were worth $6,923,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CDW. D. E. Shaw & Co. Inc. increased its holdings in 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 period. Alyeska Investment Group L.P. increased its holdings in shares of CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after acquiring an additional 1,372,874 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of CDW in the 4th quarter valued at about $105,705,000. Manning & Napier Advisors LLC purchased a new position in shares of CDW in the 1st quarter valued at about $74,908,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of CDW by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after acquiring an additional 378,841 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded up $3.42 during mid-day trading on Wednesday, reaching $167.48. 1,179,902 shares of the stock were exchanged, compared to its average volume of 1,333,929. The company has a 50 day simple moving average of $175.57 and a 200-day simple moving average of $174.34. The stock has a market capitalization of $21.95 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.69 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. 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 released 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. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. Analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent analyst reports. Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays dropped their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW 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.