Select Equity Group L.P. Boosts Position in CDW Corporation $CDW

Key Points

• Select Equity Group L.P. increased its stake in CDW Corporation by 5.6%, owning approximately 3.7 million shares valued at $592.31 million, making it the firm's 11th largest holding.
• Several hedge funds have raised their positions in CDW, with notable increases by GW&K Investment Management LLC at 78.9% and TD Private Client Wealth LLC at 30.3% during the same quarter.
• CDW recently announced a quarterly dividend of $0.625 per share, representing an annualized yield of 1.5%, with the payout scheduled for September 10th for investors of record on August 25th.

Select Equity Group L.P. increased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,695,937 shares of the information technology services provider's stock after acquiring an additional 195,511 shares during the quarter. CDW makes up about 2.5% of Select Equity Group L.P.'s holdings, making the stock its 11th biggest position. Select Equity Group L.P. owned 2.81% of CDW worth $592,311,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Petrus Trust Company LTA increased its holdings in shares of CDW by 44.4% in the 1st quarter. Petrus Trust Company LTA now owns 3,631 shares of the information technology services provider's stock valued at $582,000 after acquiring an additional 1,117 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of CDW during the first quarter worth $7,457,000. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of CDW by 9.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,840 shares of the information technology services provider's stock worth $5,263,000 after purchasing an additional 2,832 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CDW by 10.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,399 shares of the information technology services provider's stock worth $18,975,000 after purchasing an additional 10,727 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of CDW by 91.7% during the first quarter. Gotham Asset Management LLC now owns 104,072 shares of the information technology services provider's stock worth $16,679,000 after purchasing an additional 49,788 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock traded down $0.37 on Friday, reaching $165.36. 444,543 shares of the company's stock were exchanged, compared to its average volume of 1,316,652. The stock has a fifty day moving average of $171.21 and a 200-day moving average of $170.28. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $230.86. The firm has a market cap of $21.67 billion, a PE ratio of 20.54, a P/E/G ratio of 2.84 and a beta of 0.98. 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 (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.CDW's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, equities analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDW shares. JPMorgan Chase & Co. raised their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Citigroup raised their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. UBS Group reduced their target price 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 reduced their target price 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 analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and an average target price of $202.00.

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.