347,804 Shares in CDW Corporation $CDW Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in CDW Corporation, purchasing 347,804 shares valued at approximately $55.74 million, which represents about 0.26% ownership of the company.
• Analysts have mixed views on CDW's stock, with price targets ranging from $176.00 to $210.00; the consensus rating is "Hold" with a target price of $202.00.
• The company reported earnings per share of $2.60 for the last quarter, exceeding analysts' expectations and showing a 10.2% increase in revenue compared to the previous year.

Nuveen LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 347,804 shares of the information technology services provider's stock, valued at approximately $55,739,000. Nuveen LLC owned 0.26% of CDW at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CDW. GW&K Investment Management LLC grew 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 buying an additional 75 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of CDW during the fourth quarter worth about $30,000. Bayforest Capital Ltd bought a new position in shares of CDW during the first quarter worth about $31,000. Pandora Wealth Inc. bought a new position in shares of CDW during the first quarter worth about $32,000. Finally, Optiver Holding B.V. grew its holdings in shares of CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after buying an additional 119 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays decreased 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. raised their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Citigroup upped their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $202.00.

CDW Stock Performance

Shares of NASDAQ CDW traded up $1.6630 during midday trading on Tuesday, hitting $167.5030. 195,872 shares of the company's stock were exchanged, compared to its average volume of 1,325,264. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The company's 50 day moving average price is $174.67 and its 200 day moving average price is $173.33. The firm has a market capitalization of $21.95 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.

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

CDW Dividend Announcement

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