CDW Corporation $CDW Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in CDW Corporation by 29.5%, now owning 7,427 shares valued at approximately $1.19 million.
• CDW reported a quarterly earnings per share (EPS) of $2.60, exceeding estimates, with a revenue of $5.98 billion, representing a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.625 per share, with an annual dividend yield of 1.5%, reflecting a payout ratio of 31.06%.

Gulf International Bank UK Ltd decreased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 29.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,427 shares of the information technology services provider's stock after selling 3,109 shares during the period. Gulf International Bank UK Ltd's holdings in CDW were worth $1,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Vestcor Inc lifted its stake in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after buying an additional 71 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after buying an additional 72 shares in the last quarter. GW&K Investment Management LLC lifted its stake in CDW by 78.9% in the 1st 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 in the last quarter. Benin Management CORP lifted its stake in CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after buying an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Trading Down 1.8%

Shares of CDW stock traded down $2.9710 during trading hours on Thursday, reaching $163.9390. 148,432 shares of the company's stock were exchanged, compared to its average volume of 1,320,830. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $231.38. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. The company has a fifty day moving average of $174.27 and a 200-day moving average of $173.25. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

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

CDW Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CDW shares. Barclays reduced their target price on 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 upped their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, UBS Group reduced their price target on 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.