Charles Schwab Investment Management Inc. Acquires 22,184 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in CDW Corporation by 2.8%, acquiring an additional 22,184 shares, bringing its total ownership to 819,042 shares valued at approximately $131.26 million.
• CDW reported earnings per share of $2.60 for the latest quarter, surpassing analyst expectations of $2.49, with revenue growth of 10.2% year-over-year.
• The company announced a quarterly dividend of $0.625 per share, with an annualized yield of 1.6%, payable to shareholders on September 10th.

Charles Schwab Investment Management Inc. boosted its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 819,042 shares of the information technology services provider's stock after buying an additional 22,184 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.62% of CDW worth $131,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CDW. GW&K Investment Management LLC raised 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 worth $27,000 after purchasing an additional 75 shares in the last quarter. Orion Capital Management LLC bought a new position in CDW in the 4th quarter worth $30,000. Bayforest Capital Ltd bought a new position in CDW in the 1st quarter worth $31,000. Optiver Holding B.V. grew its position in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after buying an additional 119 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of 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 worth $42,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $160.15 on Tuesday. The firm's 50 day moving average price is $175.87 and its 200-day moving average price is $174.41. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $20.99 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter last year, the business earned $2.50 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that CDW Corporation will post 9.41 EPS for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio (DPR) is 31.06%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDW. JPMorgan Chase & Co. increased their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barclays cut their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. UBS Group cut their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $202.00.

About CDW

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.

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