MBB Public Markets I LLC Purchases Shares of 1,833 CDW Corporation $CDW

Key Points

• MBB Public Markets I LLC purchased 1,833 shares of CDW Corporation, valued at approximately $294,000, during the first quarter of the year.
• CDW reported a 10.2% year-over-year increase in revenue, amounting to $5.98 billion, and its earnings per share for the quarter beat analysts' estimates.
• The company announced a quarterly dividend of $0.625, yielding 1.5%, with a payout ratio of 31.06% as of its last dividend payment on September 10th.

MBB Public Markets I LLC bought a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,833 shares of the information technology services provider's stock, valued at approximately $294,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of CDW by 0.4% during the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock worth $2,683,767,000 after purchasing an additional 72,550 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of CDW by 5.6% during the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider's stock worth $592,311,000 after purchasing an additional 195,511 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of CDW by 15.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock worth $447,596,000 after purchasing an additional 378,841 shares in the last quarter. Invesco Ltd. lifted its position in shares of CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock worth $396,157,000 after purchasing an additional 45,217 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of CDW by 444.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after purchasing an additional 1,332,454 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW traded up $1.34 on Wednesday, reaching $167.49. The company had a trading volume of 171,383 shares, compared to its average volume of 1,314,661. The company has a fifty day moving average of $170.28 and a 200-day moving average of $169.89. The company has a market capitalization of $21.95 billion, a P/E ratio of 20.80, a PEG ratio of 2.71 and a beta of 0.98. 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 one year low of $137.31 and a one year high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion during 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 revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 EPS. As a group, equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CDW. Barclays reduced 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 report on Thursday, August 7th. Citigroup upped their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group cut their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, CDW currently has a consensus rating of "Hold" and a consensus target price of $202.00.

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.