CDW Corporation $CDW Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP has increased its stake in CDW Corporation by 8.8%, acquiring a total of 49,516 shares valued at approximately $7.93 million.
• CDW reported a robust quarterly earnings performance, with an EPS of $2.60, exceeding analysts' expectations of $2.49, and a revenue of $5.98 billion, a 10.2% increase year-over-year.
• The company announced a quarterly dividend of $0.625 per share, which translates to an annualized yield of 1.5%, set to be paid on September 10th.

Korea Investment CORP boosted its position in CDW Corporation (NASDAQ:CDW - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,516 shares of the information technology services provider's stock after buying an additional 4,019 shares during the quarter. Korea Investment CORP's holdings in CDW were worth $7,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CDW. State of Tennessee Department of Treasury lifted its holdings in CDW by 21.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 35,744 shares of the information technology services provider's stock worth $6,221,000 after buying an additional 6,405 shares in the last quarter. Stifel Financial Corp raised its stake in shares of CDW by 19.1% in the 4th quarter. Stifel Financial Corp now owns 88,663 shares of the information technology services provider's stock valued at $15,431,000 after purchasing an additional 14,234 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of CDW by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 302,098 shares of the information technology services provider's stock valued at $52,553,000 after purchasing an additional 19,922 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of CDW in the 4th quarter valued at about $1,511,000. Finally, Coldstream Capital Management Inc. raised its stake in shares of CDW by 11.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider's stock valued at $309,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CDW. JPMorgan Chase & Co. upped 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. Citigroup upped 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. Barclays cut their target price 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. Finally, UBS Group cut their target price 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. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $202.00.

CDW Stock Performance

CDW traded up $1.34 on Wednesday, hitting $165.01. 887,938 shares of the company's stock were exchanged, compared to its average volume of 1,321,518. The firm has a market cap of $21.63 billion, a PE ratio of 20.50, a P/E/G ratio of 2.77 and a beta of 0.95. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. The stock has a fifty day moving average of $173.73 and a two-hundred day moving average of $172.13. 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 quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.11. The firm 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%. CDW's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. On average, research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

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