MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $18.98 Million Stake in CDW Corporation $CDW

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,399 shares of the information technology services provider's stock after buying an additional 10,727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.09% of CDW worth $18,975,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in CDW by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after purchasing an additional 72,550 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CDW by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after acquiring an additional 378,841 shares during the period. Invesco Ltd. raised its holdings in CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock valued at $396,157,000 after acquiring an additional 45,217 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock valued at $261,564,000 after acquiring an additional 1,332,454 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in CDW by 10.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock valued at $282,701,000 after acquiring an additional 157,747 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. UBS Group reduced their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Citigroup increased their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, CDW presently has an average rating of "Hold" and an average price target of $202.00.

CDW Price Performance

Shares of NASDAQ CDW traded down $1.44 during midday trading on Friday, reaching $164.29. 1,120,717 shares of the company were exchanged, compared to its average volume of 1,170,116. The stock's 50-day moving average price is $170.85 and its 200-day moving average price is $170.08. The stock has a market cap of $21.53 billion, a P/E ratio of 20.41, a PEG ratio of 2.75 and a beta of 0.98. CDW Corporation has a one year low of $137.31 and a one year high of $230.86. The company has a quick ratio of 1.22, a current ratio of 1.35 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 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The company 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 revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

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.