CDW Corporation $CDW Shares Purchased by Foyston Gordon & Payne Inc

Key Points

• Foyston Gordon & Payne Inc increased its stake in CDW Corporation by 15.3%, owning 25,555 shares valued at approximately $4.10 million as of the latest SEC filing.
• CDW's stock has experienced a series of price target adjustments, with Citigroup raising its target to $200 and JPMorgan to $205, while UBS and Barclays lowered theirs, indicating mixed analyst sentiment.
• CDW Corporation recently announced a quarterly dividend of $0.625 per share, reflecting a 1.5% yield and a payout ratio of 31.06%.

Foyston Gordon & Payne Inc boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,555 shares of the information technology services provider's stock after acquiring an additional 3,393 shares during the quarter. Foyston Gordon & Payne Inc's holdings in CDW were worth $4,095,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC raised its position in 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 acquiring an additional 75 shares in the last quarter. Orion Capital Management LLC purchased a new position in CDW during the fourth quarter valued at approximately $30,000. Bayforest Capital Ltd purchased a new position in CDW during the first quarter valued at approximately $31,000. Pandora Wealth Inc. purchased a new position in CDW during the first quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC purchased a new position in CDW during the first quarter valued at approximately $34,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDW. Barclays dropped their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $202.00.

CDW Price Performance

CDW traded down $0.67 on Wednesday, hitting $166.91. 947,859 shares of the company's stock were exchanged, compared to its average volume of 1,328,330. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.76 and a beta of 0.95. The firm has a 50-day moving average price of $174.44 and a 200-day moving average price of $173.29. 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 earnings results 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 business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio is presently 31.06%.

CDW 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.