Nissay Asset Management Corp Japan ADV Buys 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 boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,840 shares of the information technology services provider's stock after acquiring an additional 2,832 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in CDW were worth $5,263,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its holdings in CDW by 78.9% during the 1st 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 last quarter. Orion Capital Management LLC bought a new stake in CDW during the 4th quarter worth about $30,000. Bayforest Capital Ltd bought a new stake in CDW during the 1st quarter worth about $31,000. Pandora Wealth Inc. bought a new stake in CDW during the 1st quarter worth about $32,000. Finally, Stone House Investment Management LLC bought a new stake in CDW during the 1st quarter worth about $34,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Barclays decreased their price objective 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 target price 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. JPMorgan Chase & Co. upped their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Citigroup upped their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $202.00.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $169.73 on Friday. The company has a market capitalization of $22.24 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.82 and a beta of 0.98. The firm's 50 day simple moving average is $172.24 and its 200 day simple moving average is $170.72. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86.

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 for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion for 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%. CDW's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. As a group, sell-side analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio (DPR) is currently 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.

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