Quantbot Technologies LP Has $2.36 Million Stock Position in CDW Corporation $CDW

Key Points

• Quantbot Technologies LP has significantly cut its stake in CDW Corporation by 85.8%, holding now 14,720 shares valued at approximately $2.36 million.
• CDW reported a strong quarterly performance with $2.60 earnings per share, exceeding estimates, and revenue growth of 10.2% compared to the previous year.
• The company also announced a quarterly dividend of $0.625 per share, which reflects a 1.5% yield with a payout ratio of 31.06%.

Quantbot Technologies LP trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 85.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,720 shares of the information technology services provider's stock after selling 89,136 shares during the period. Quantbot Technologies LP's holdings in CDW were worth $2,359,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CDW. GW&K Investment Management LLC increased 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 valued at $27,000 after purchasing an additional 75 shares during the period. Orion Capital Management LLC acquired a new position in shares of CDW during the fourth quarter valued at $30,000. Bayforest Capital Ltd acquired a new position in shares of CDW during the first quarter valued at $31,000. Pandora Wealth Inc. acquired a new position in shares of CDW during the first quarter valued at $32,000. Finally, Stone House Investment Management LLC acquired a new position in shares of CDW during the first quarter valued at $34,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

NASDAQ:CDW traded up $2.82 during mid-day trading on Friday, reaching $167.00. 1,576,479 shares of the stock were exchanged, compared to its average volume of 1,231,103. The business has a fifty day moving average price of $173.99 and a 200 day moving average price of $172.56. The firm has a market capitalization of $21.89 billion, a PE ratio of 20.75, a PEG ratio of 2.78 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released 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. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company earned $2.50 earnings per share. CDW's revenue was up 10.2% compared to the same quarter last year. Research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be given a $0.625 dividend. The ex-dividend date is 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%.

Analyst Ratings Changes

A number of research analysts have recently commented on CDW shares. JPMorgan Chase & Co. raised their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. UBS Group lowered their price target on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Barclays lowered their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Finally, Citigroup lifted their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.