8,358 Shares in CDW Corporation $CDW Bought by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. has acquired a new stake in CDW Corporation, purchasing 8,358 shares valued at approximately $1,339,000 during the first quarter.
• Despite several analysts adjusting their price targets, the consensus rating for CDW stock remains a "Hold" with a target price of $202.00.
• The company recently announced a quarterly dividend of $0.625 per share, with an annual yield of 1.5%, highlighting its commitment to returning value to shareholders.

Fox Run Management L.L.C. acquired a new position in CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,358 shares of the information technology services provider's stock, valued at approximately $1,339,000.

Several other hedge funds also recently added to or reduced their stakes in the business. GW&K Investment Management LLC boosted its position 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 worth $27,000 after buying an additional 75 shares during the period. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter valued at $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the first quarter valued at $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW in the first quarter valued at $32,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of CDW in the first quarter valued at $34,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of NASDAQ CDW traded up $1.6080 during midday trading on Tuesday, reaching $167.4480. 481,711 shares of the company were exchanged, compared to its average volume of 1,327,129. 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 $231.38. The stock has a fifty day simple moving average of $174.67 and a 200 day simple moving average of $173.33. The stock has a market cap of $21.95 billion, a P/E ratio of 20.83, a PEG ratio of 2.72 and a beta of 0.95.

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 for the quarter, beating analysts' consensus estimates 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 return on equity of 53.63% and a net margin of 4.92%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 EPS. On average, research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed 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 dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's payout ratio is currently 31.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on CDW shares. UBS Group cut their price target on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Barclays cut their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on CDW from $185.00 to $205.00 and gave the company 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.