Flputnam Investment Management Co. Decreases Stake in CDW Corporation $CDW

Key Points

• Flputnam Investment Management Co. reduced its stake in CDW Corporation by 53.6%, ending the first quarter with 2,087 shares worth $334,000.
• Multiple research firms have adjusted price targets for CDW, with Citigroup raising it to $200, while Barclays has cut it to $176, and overall analysts maintain a consensus rating of "Hold".
• CDW has announced a quarterly dividend of $0.625 per share, set to be paid on September 10th, equating to a yield of 1.5% and a payout ratio of 31.06%.

Flputnam Investment Management Co. lowered its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 53.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,087 shares of the information technology services provider's stock after selling 2,411 shares during the period. Flputnam Investment Management Co.'s holdings in CDW were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDW. GW&K Investment Management LLC raised its holdings 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 worth $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of CDW in the fourth quarter worth $30,000. Bayforest Capital Ltd purchased a new position in shares of CDW in the first quarter worth $31,000. Pandora Wealth Inc. purchased a new position in shares of CDW in the first quarter worth $32,000. Finally, Stone House Investment Management LLC purchased a new position in shares of CDW in the first quarter worth $34,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

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

CDW Stock Up 0.7%

CDW stock opened at $163.37 on Thursday. The firm has a market cap of $21.41 billion, a PE ratio of 20.29, a P/E/G ratio of 2.74 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The firm's fifty day moving average is $172.61 and its 200 day moving average is $171.20. CDW Corporation has a one year low of $137.31 and a one year high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion for 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%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. On average, research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's dividend payout ratio (DPR) 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.

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