Invesco Ltd. Acquires 45,217 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Invesco Ltd. has increased its holdings in CDW Corporation by 1.9%, owning over 2.47 million shares valued at approximately $396.16 million.
• The company recently announced a quarterly dividend of $0.625 per share, which represents an annualized dividend of $2.50 and a yield of 1.6%.
• Analysts have mixed views on CDW, with target prices ranging from $176 to $205, indicating a consensus rating of "Hold".

Invesco Ltd. grew its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,471,963 shares of the information technology services provider's stock after purchasing an additional 45,217 shares during the quarter. Invesco Ltd. owned approximately 1.88% of CDW worth $396,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CDW. Vestcor Inc increased its holdings in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after acquiring an additional 71 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in CDW by 30.3% during the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after buying an additional 72 shares in the last quarter. GW&K Investment Management LLC grew its holdings in CDW by 78.9% during 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 in the last quarter. Benin Management CORP grew its holdings in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after buying an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after buying an additional 81 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CDW shares. Barclays cut their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. UBS Group cut their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Citigroup raised their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Price Performance

Shares of CDW stock traded down $1.96 on Friday, reaching $164.13. The company's stock had a trading volume of 825,521 shares, compared to its average volume of 1,329,376. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.81 and a beta of 0.95. The stock's fifty day simple moving average is $175.19 and its 200-day simple moving average is $174.10. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $231.38. 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 issued its quarterly 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. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%. CDW's revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.50 earnings per share. Analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business 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 $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW's dividend payout ratio (DPR) is currently 31.06%.

About CDW

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.