Findlay Park Partners LLP Acquires 6,500 Shares of CDW Corporation $CDW

Key Points

• Findlay Park Partners LLP increased its stake in CDW Corporation by 1.4%, owning 475,626 shares worth approximately $76.2 million as of the latest SEC filing.
• CDW announced a quarterly dividend of $0.625 per share, translating to an annual yield of 1.5%, with the payment scheduled for September 10th.
• Analysts have mixed opinions on CDW's stock, with price targets ranging from $176.00 to $205.00, reflecting a consensus rating of "Hold" and an average target of $202.00.

Findlay Park Partners LLP raised its position in CDW Corporation (NASDAQ:CDW - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 475,626 shares of the information technology services provider's stock after buying an additional 6,500 shares during the period. Findlay Park Partners LLP owned 0.36% of CDW worth $76,224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. GW&K Investment Management LLC increased its stake 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 valued at $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of CDW during the 4th quarter worth approximately $30,000. Bayforest Capital Ltd purchased a new stake in shares of CDW during the 1st quarter worth approximately $31,000. Pandora Wealth Inc. purchased a new stake in shares of CDW during the 1st quarter worth approximately $32,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of CDW during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of CDW traded down $1.11 during mid-day trading on Friday, reaching $164.76. 1,109,840 shares of the stock traded hands, compared to its average volume of 1,353,628. The firm has a fifty day moving average price of $173.43 and a 200 day moving average price of $171.60. The company has a market cap of $21.59 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 2.74 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 1 year low of $137.31 and a 1 year high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $2.50 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's payout ratio is currently 31.06%.

Wall Street Analyst Weigh In

CDW has been the subject of several research analyst reports. Barclays decreased 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 note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Citigroup lifted their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, CDW 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.