CDW Corporation $CDW Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board significantly reduced its stake in CDW Corporation by 67.9%, selling 43,611 shares and holding 20,632 shares valued at approximately $3.3 million.
• Analysts have mixed opinions on CDW, with target price adjustments ranging from $176 to $210, and a consensus rating of "Hold".
• CDW recently announced a quarterly dividend of $0.625 per share, reflecting an annualized yield of 1.5% and a dividend payout ratio of 31.06%.

Public Sector Pension Investment Board lowered its position in CDW Corporation (NASDAQ:CDW - Free Report) by 67.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,632 shares of the information technology services provider's stock after selling 43,611 shares during the period. Public Sector Pension Investment Board's holdings in CDW were worth $3,306,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CDW. Vanguard Group Inc. grew its holdings in CDW by 0.4% during the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after purchasing an additional 72,550 shares during the period. Massachusetts Financial Services Co. MA grew 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 valued at $447,596,000 after purchasing an additional 378,841 shares during the period. Invesco Ltd. grew its holdings in CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock valued at $396,157,000 after purchasing an additional 45,217 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of CDW by 906.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after acquiring an additional 1,823,788 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of CDW by 10.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock valued at $282,701,000 after acquiring an additional 157,747 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Trading Up 1.7%

Shares of NASDAQ:CDW traded up $2.82 during trading on Friday, hitting $167.00. The company had a trading volume of 1,576,479 shares, compared to its average volume of 1,231,103. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The company has a fifty day simple moving average of $173.99 and a two-hundred day simple moving average of $172.79. CDW Corporation has a one year low of $137.31 and a one year high of $231.38. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's payout ratio is 31.06%.

Analysts Set New Price Targets

Several brokerages have recently commented on CDW. UBS Group lowered their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Barclays lowered their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased 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. Finally, Citigroup increased their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.