CDW Corporation $CDW Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in CDW Corporation by 10.2%, holding a total of 26,878 shares valued at approximately $4.3 million as of the end of the first quarter.
• CDW reported $5.98 billion in revenue for the latest quarter, exceeding analyst expectations and showing a 10.2% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.625 per share, representing an annual yield of 1.5%, set to be paid on September 10th.

Comerica Bank grew its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 10.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,878 shares of the information technology services provider's stock after acquiring an additional 2,482 shares during the quarter. Comerica Bank's holdings in CDW were worth $4,307,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its position in shares of 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 acquired a new stake in shares of CDW in the 4th quarter valued at about $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the 1st quarter valued at about $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW in the 1st quarter valued at about $32,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of CDW in the 1st quarter valued at about $34,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays decreased their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup upped their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, UBS Group decreased their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $202.00.

CDW Stock Performance

Shares of CDW stock traded up $0.04 during trading hours on Wednesday, reaching $162.31. 318,464 shares of the company's stock were exchanged, compared to its average volume of 1,313,614. The company has a market cap of $21.27 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. The company's 50 day moving average is $172.90 and its two-hundred day moving average is $171.25. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 53.63% and a net margin of 4.92%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. Equities research analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared 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. 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 dividend payout ratio (DPR) is presently 31.06%.

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.