46,529 Shares in CDW Corporation $CDW Purchased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. has invested approximately $7.46 million in CDW Corporation by acquiring 46,529 shares.
• CDW recently reported earnings per share (EPS) of $2.60, exceeding estimates by 11 cents, and experienced a 10.2% increase in quarterly revenue year-over-year.
• The company will pay a quarterly dividend of $0.625 on September 10th, representing a 1.5% yield based on its current stock price.

Polar Asset Management Partners Inc. bought a new position in CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 46,529 shares of the information technology services provider's stock, valued at approximately $7,457,000.

Several other large investors also recently added to or reduced their stakes in CDW. Vestcor Inc raised its stake in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after purchasing an additional 71 shares during the last quarter. TD Private Client Wealth LLC raised its stake in CDW by 30.3% during the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after purchasing an additional 72 shares during the last quarter. GW&K Investment Management LLC raised its stake 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 valued at $27,000 after purchasing an additional 75 shares during the last quarter. Benin Management CORP raised its stake in CDW by 2.5% during the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after purchasing an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after purchasing an additional 81 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of several research analyst reports. 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 note on Thursday, July 17th. 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 note 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 note 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 note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Price Performance

Shares of CDW stock traded down $3.27 during mid-day trading on Thursday, reaching $167.50. 1,036,616 shares of the stock were exchanged, compared to its average volume of 1,315,758. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The firm has a 50-day simple moving average of $171.54 and a 200 day simple moving average of $170.42. 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 earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. On average, sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

About CDW

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.