Mizuho Securities USA LLC Sells 1,960 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in CDW Corporation by 15.5%, owning 10,670 shares worth approximately $1.71 million at the end of the first quarter.
• CDW's recent quarterly earnings exceeded expectations, reporting an EPS of $2.60 against an estimate of $2.49, with revenues of $5.98 billion, a 10.2% increase year-over-year.
• The company recently announced a quarterly dividend of $0.625 per share, which reflects a dividend yield of 1.6% and a payout ratio of 31.06%.

Mizuho Securities USA LLC decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,670 shares of the information technology services provider's stock after selling 1,960 shares during the quarter. Mizuho Securities USA LLC's holdings in CDW were worth $1,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestcor Inc grew its holdings in CDW by 1.8% during the first quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after purchasing an additional 71 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of CDW by 30.3% during the first quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after acquiring an additional 72 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 75 shares during the period. Benin Management CORP boosted its holdings in shares of CDW by 2.5% during the first quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after acquiring an additional 80 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of CDW by 4.0% during the first quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

CDW traded down $2.33 during trading on Friday, hitting $163.76. 1,829,428 shares of the stock traded hands, compared to its average volume of 1,147,441. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.76 and a beta of 0.95. 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 business has a 50 day moving average price of $174.90 and a 200 day moving average price of $173.88.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 4.92% and a return on equity of 53.63%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Equities research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.625 per share. 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 is 31.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CDW. Barclays reduced their price objective on 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. boosted their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Citigroup boosted their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, UBS Group dropped their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.