CDW Corporation $CDW Position Lifted by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its stake in CDW Corporation by 2.4%, now owning approximately 1.12% of the company valued at $236.67 million.
• Analysts have mixed opinions on CDW, with target prices ranging from $176 to $205, and the stock currently holds a consensus rating of "Hold".
• CDW recently announced a quarterly dividend of $0.625 per share, representing an annual yield of 1.5% and a payout ratio of 31.06%.

Northern Trust Corp boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,476,777 shares of the information technology services provider's stock after purchasing an additional 34,140 shares during the period. Northern Trust Corp owned approximately 1.12% of CDW worth $236,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in CDW by 33.9% during the first quarter. Brooklyn Investment Group now owns 529 shares of the information technology services provider's stock valued at $85,000 after acquiring an additional 134 shares during the period. Foyston Gordon & Payne Inc increased its position in shares of CDW by 15.3% in the first quarter. Foyston Gordon & Payne Inc now owns 25,555 shares of the information technology services provider's stock worth $4,095,000 after acquiring an additional 3,393 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in shares of CDW by 5.1% in the first quarter. Burgundy Asset Management Ltd. now owns 1,988 shares of the information technology services provider's stock worth $319,000 after acquiring an additional 96 shares in the last quarter. Corient IA LLC acquired a new stake in shares of CDW in the first quarter worth $304,000. Finally, Raymond James Financial Inc. increased its position in shares of CDW by 5.4% in the first quarter. Raymond James Financial Inc. now owns 164,920 shares of the information technology services provider's stock worth $26,430,000 after acquiring an additional 8,389 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Up 1.7%

Shares of CDW stock traded up $2.82 on Friday, hitting $167.00. The stock had a trading volume of 1,576,479 shares, compared to its average volume of 1,231,103. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 2.78 and a beta of 0.95. The stock's 50 day moving average is $173.99 and its 200-day moving average is $172.56. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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 business 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 business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 earnings per share. As a group, research analysts expect that CDW Corporation will post 9.41 earnings per share for the current 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 paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's dividend payout ratio is 31.06%.

Analyst Ratings Changes

Several research firms have recently issued reports on CDW. JPMorgan Chase & Co. increased their price objective 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. Citigroup increased their price objective 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. UBS Group dropped their price objective 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. Finally, Barclays dropped their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $202.00.

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.