National Pension Service Acquires 27,074 Shares of CDW Corporation $CDW

Key Points

• The National Pension Service has increased its stake in CDW Corporation by 13.2%, purchasing an additional 27,074 shares, bringing its total to 232,314 shares, valued at approximately $37.23 million.
• CDW recently announced a quarterly dividend of $0.625 per share, scheduled for payment on September 10, representing an annualized yield of 1.5%.
• Despite fluctuating price targets from various analysts, the company's stock currently holds a consensus rating of "Hold" with a price target averaging $202.00.

National Pension Service raised its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,314 shares of the information technology services provider's stock after purchasing an additional 27,074 shares during the quarter. National Pension Service owned approximately 0.18% of CDW worth $37,231,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. GW&K Investment Management LLC lifted its position in shares of CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter valued at approximately $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the first quarter valued at approximately $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW in the first quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of CDW in the first quarter valued at approximately $34,000. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CDW shares. UBS Group cut their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Barclays cut their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Citigroup lifted their price target on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, CDW has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Stock Performance

NASDAQ:CDW traded down $2.7950 during mid-day trading on Thursday, hitting $164.1150. 148,432 shares of the stock were exchanged, compared to its average volume of 1,320,830. The stock has a market capitalization of $21.51 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The firm's 50-day simple moving average is $174.27 and its 200 day simple moving average is $173.25. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. As a group, equities analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's payout ratio is currently 31.06%.

CDW Company 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.