Cooper Investors PTY Ltd. Sells 60,919 Shares of 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. trimmed its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 70.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,156 shares of the information technology services provider's stock after selling 60,919 shares during the period. Cooper Investors PTY Ltd.'s holdings in CDW were worth $4,671,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GW&K Investment Management LLC lifted its holdings in shares of CDW by 78.9% during 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 purchasing an additional 75 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of CDW during the fourth quarter valued at $30,000. Bayforest Capital Ltd purchased a new stake in shares of CDW during the first quarter valued at $31,000. Pandora Wealth Inc. purchased a new stake in shares of CDW during the first quarter valued at $32,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of CDW during the first quarter valued at $34,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group reduced their target price on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Citigroup upped 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. Barclays dropped their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, CDW currently has a consensus rating of "Hold" and an average target price of $202.00.

CDW Stock Up 0.0%

CDW stock traded up $0.01 during mid-day trading on Tuesday, hitting $164.17. The stock had a trading volume of 322,697 shares, compared to its average volume of 1,329,911. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.68 and a beta of 0.98. The company has a fifty day moving average of $169.08 and a 200 day moving average of $169.70. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $229.02. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (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 the consensus estimate of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. On average, equities analysts expect 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 was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's dividend payout ratio is 31.06%.

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.