Cooper Investors PTY Ltd. Trims Stock Holdings in CDW Corporation $CDW

Key Points

• Cooper Investors PTY Ltd. reduced its stake in CDW Corporation by 70%, now holding 26,156 shares valued at approximately $4.67 million.
• CDW reported earnings of $2.60 per share, exceeding expectations, with quarterly revenues reaching $5.98 billion, up 10.2% year-over-year.
• Following recent performance, analysts have set a consensus target price of $202.00 for CDW stock, with mixed ratings regarding its investment potential.

Cooper Investors PTY Ltd. reduced its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 70.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,156 shares of the information technology services provider's stock after selling 60,919 shares during the quarter. Cooper Investors PTY Ltd.'s holdings in CDW were worth $4,671,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. GW&K Investment Management LLC raised its stake 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 acquired a new position in CDW in the fourth quarter valued at $30,000. Bayforest Capital Ltd acquired a new stake in CDW during the 1st quarter worth $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW during the first quarter worth about $32,000. Finally, Stone House Investment Management LLC purchased a new position in shares of CDW during the first quarter worth about $34,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $162.87 on Friday. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $230.86. The company has a 50-day simple moving average of $169.67 and a 200-day simple moving average of $169.80. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The company has a market cap of $21.35 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the company earned $2.50 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 25th. CDW's dividend payout ratio is 31.06%.

Analysts Set New Price Targets

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

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.

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