Corient IA LLC Purchases Shares of 1,898 CDW Corporation $CDW

Key Points

• Corient IA LLC has acquired a new stake in CDW Corporation, purchasing 1,898 shares valued at approximately $304,000 during the first quarter.
• Analysts have raised and lowered their price targets for CDW, with a consensus rating of "Hold" and a target price of $202.00.
• CDW reported $2.60 earnings per share for its recent quarter, exceeding estimates, and announced a quarterly dividend of $0.625, reflecting a dividend yield of 1.5%.

Corient IA LLC bought a new position in CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 1,898 shares of the information technology services provider's stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. D. E. Shaw & Co. Inc. lifted its position in shares of CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after purchasing an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after purchasing an additional 1,372,874 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of CDW in the 4th quarter worth about $105,705,000. Manning & Napier Advisors LLC purchased a new position in CDW during the 1st quarter valued at about $74,908,000. Finally, Massachusetts Financial Services Co. MA lifted its position in CDW by 15.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after acquiring an additional 378,841 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent research reports. Barclays lowered their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. UBS Group lowered their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target 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. Finally, Citigroup lifted their price target 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $202.00.

CDW Stock Up 1.7%

NASDAQ:CDW traded up $2.82 on Friday, reaching $167.00. 1,576,132 shares of the stock traded hands, compared to its average volume of 1,321,690. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.77 and a beta of 0.95. 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 Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The company's fifty day simple moving average is $174.06 and its 200 day simple moving average is $173.01.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. CDW's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. Equities analysts predict 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. Stockholders of record on Monday, August 25th will be paid a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's payout ratio is currently 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.