Gotham Asset Management LLC Grows Holdings in CDW Corporation $CDW

Key Points

• Gotham Asset Management LLC increased its stake in CDW Corporation by 91.7% during the first quarter, owning approximately 104,072 shares worth $16.68 million.
• Recent analyst reports have mixed ratings for CDW, with Citigroup and JPMorgan raising price targets to $200.00 and $205.00 respectively, while UBS and Barclays lowered their targets.
• CDW reported earnings of $2.60 per share, exceeding expectations, and declared a quarterly dividend of $0.625 per share, reflecting a 1.5% yield for investors.

Gotham Asset Management LLC boosted its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 91.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,072 shares of the information technology services provider's stock after buying an additional 49,788 shares during the quarter. Gotham Asset Management LLC owned approximately 0.08% of CDW worth $16,679,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC increased its holdings 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 buying an additional 75 shares during the period. 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 owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $5.64 on Thursday, hitting $165.13. 873,087 shares of the company were exchanged, compared to its average volume of 1,314,621. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86. The stock's 50 day moving average price is $171.54 and its 200 day moving average price is $170.42. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $21.64 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW's payout ratio is currently 31.06%.

Wall Street Analyst Weigh In

CDW has been the subject of several recent analyst reports. Citigroup raised their target price 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. UBS Group lowered their target price 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. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. raised their target price 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. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, CDW presently has a consensus rating of "Hold" and a consensus target price of $202.00.

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.