Federated Hermes Inc. Purchases 3,980 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Federated Hermes Inc. increased its stake in CDW Corporation by 364.5%, acquiring an additional 3,980 shares, bringing its total holdings to 5,072 shares valued at $813,000.
• Multiple analysts have adjusted their price targets for CDW, with UBS lowering it from $210 to $200 and JPMorgan raising it from $185 to $205, indicating varied outlooks on the stock's performance.
• The company recently declared a quarterly dividend of $0.625 per share, resulting in an annualized yield of 1.5%, set to be paid on September 10th.

Federated Hermes Inc. boosted its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 364.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,072 shares of the information technology services provider's stock after buying an additional 3,980 shares during the period. Federated Hermes Inc.'s holdings in CDW were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC boosted its holdings 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 purchasing an additional 75 shares during the period. Orion Capital Management LLC bought a new position in CDW in the 4th quarter valued at $30,000. Optiver Holding B.V. boosted its holdings in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares during the period. Golden State Wealth Management LLC boosted its holdings in CDW by 237.2% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 185 shares during the period. Finally, Global X Japan Co. Ltd. bought a new position in CDW in the 1st quarter valued at $43,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CDW shares. UBS Group cut their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday. Barclays dropped their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, CDW presently has an average rating of "Hold" and a consensus price target of $202.00.

CDW Price Performance

CDW stock traded up $1.04 during mid-day trading on Friday, hitting $162.92. 1,066,641 shares of the stock were exchanged, compared to its average volume of 1,080,320. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.20. The business has a fifty day moving average price of $176.17 and a 200 day moving average price of $174.81. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The stock has a market capitalization of $21.45 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.74 and a beta of 0.95.

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 for the quarter, topping the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 EPS for the current 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 paid a $0.625 dividend. 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 currently 31.06%.

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.84% of the stock is owned by corporate insiders.

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.