MBB Public Markets I LLC Buys 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 stake in CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,833 shares of the information technology services provider's stock, valued at approximately $294,000.

Several other institutional investors also recently bought and sold shares of the company. Vancity Investment Management Ltd acquired a new stake in CDW in the first quarter valued at approximately $14,428,000. United Services Automobile Association acquired a new stake in CDW in the first quarter valued at approximately $533,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in CDW by 9.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,961 shares of the information technology services provider's stock valued at $475,000 after acquiring an additional 257 shares in the last quarter. Caxton Associates LLP acquired a new stake in CDW in the first quarter valued at approximately $951,000. Finally, Sciencast Management LP acquired a new stake in CDW in the first quarter valued at approximately $446,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 3.0%

Shares of CDW stock opened at $165.73 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The firm has a fifty day moving average price of $171.21 and a 200 day moving average price of $170.28. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The stock has a market cap of $21.72 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98.

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, beating 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 company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were issued a $0.625 dividend. The ex-dividend date of this dividend 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 presently 31.06%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDW shares. Citigroup lifted their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays lowered their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, UBS Group lowered their price objective 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.

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