CDW Corporation (NASDAQ:CDW) Shares Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in CDW Corporation by 41.7% during Q1, owning 6,045 shares worth $969,000 as of the latest filing.
• CDW reported $2.60 earnings per share for the last quarter, surpassing estimates, with revenue of $5.98 billion, reflecting a 10.2% year-over-year growth.
• The company also declared a quarterly dividend of $0.625 per share, equating to an annual dividend yield of 1.5%.

E Fund Management Co. Ltd. increased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 41.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,045 shares of the information technology services provider's stock after acquiring an additional 1,778 shares during the period. E Fund Management Co. Ltd.'s holdings in CDW were worth $969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GW&K Investment Management LLC lifted its position in shares of 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 acquiring an additional 75 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of CDW in the fourth quarter valued at $30,000. Bayforest Capital Ltd purchased a new stake in shares of CDW in the first quarter valued at $31,000. Pandora Wealth Inc. purchased a new stake in shares of CDW in the first quarter valued at $32,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of CDW in the first quarter valued at $34,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Down 1.4%

NASDAQ CDW traded down $2.33 during mid-day trading on Friday, reaching $163.76. 1,829,428 shares of the company's stock traded hands, compared to its average volume of 1,147,441. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38. The company has a fifty day simple moving average of $174.90 and a 200-day simple moving average of $173.73. 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 company has a market cap of $21.46 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.72 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during 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 revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. As a group, equities research analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

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

Analyst Ratings Changes

CDW has been the topic of several recent research reports. UBS Group reduced their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Barclays decreased their price target 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. JPMorgan Chase & Co. raised their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, CDW presently has an average rating of "Hold" and a consensus price target 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.