Nissay Asset Management Corp Japan ADV Acquires 2,832 Shares of CDW Corporation $CDW

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in CDW Corporation by 9.4%, acquiring an additional 2,832 shares, bringing its total holdings to 32,840 shares valued at approximately $5.26 million.
• Recent analyst reports have resulted in varied price target adjustments for CDW, with Barclays lowering the target from $205 to $176, while UBS Group decreased theirs from $210 to $200, maintaining a "buy" rating.
• CDW declared a quarterly dividend of $0.625 per share, translating to an annualized dividend of $2.50, with a dividend yield of 1.5%, payable on September 10th to shareholders on record as of August 25th.

Nissay Asset Management Corp Japan ADV grew its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,840 shares of the information technology services provider's stock after buying an additional 2,832 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in CDW were worth $5,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in 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 during the last quarter. Voloridge Investment Management LLC purchased a new position in CDW during the fourth quarter worth about $105,705,000. Manning & Napier Advisors LLC purchased a new position in CDW during the first quarter worth about $74,908,000. Contour Asset Management LLC purchased a new position in CDW during the first quarter worth about $64,505,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in 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 during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

CDW traded up $0.15 during midday trading on Friday, reaching $165.88. The company had a trading volume of 412,663 shares, compared to its average volume of 1,316,439. The business has a 50-day moving average price of $171.21 and a two-hundred day moving average price of $170.28. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $230.86. 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 stock has a market cap of $21.74 billion, a PE ratio of 20.61, a P/E/G ratio of 2.84 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect 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 given a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's payout ratio is 31.06%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays cut 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. 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. JPMorgan Chase & Co. boosted their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Citigroup boosted their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $202.00.

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.